Utz Brands (NYSE:UTZ) Sets New 52-Week Low on Analyst Downgrade

Utz Brands, Inc. (NYSE:UTZ)’s share price hit a new 52-week low on Wednesday after TD Cowen lowered their price target on the stock from $21.00 to $17.00. TD Cowen currently has a buy rating on the stock. Utz Brands traded as low as $13.46 and last traded at $13.57, with a volume of 84318 shares. The stock had previously closed at $14.49.

Several other analysts have also recently commented on the company. Mizuho decreased their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Piper Sandler boosted their price target on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.80.

Insider Buying and Selling

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at $7,813,346.44. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Utz Brands by 8.2% in the second quarter. Creative Planning now owns 37,155 shares of the company’s stock valued at $618,000 after buying an additional 2,802 shares during the period. Rhumbline Advisers raised its holdings in Utz Brands by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock valued at $1,652,000 after acquiring an additional 3,466 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Utz Brands by 20.8% during the 2nd quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after purchasing an additional 4,176 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Utz Brands by 11.6% in the third quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock worth $711,000 after purchasing an additional 4,182 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in Utz Brands by 1.0% in the second quarter. First Eagle Investment Management LLC now owns 441,396 shares of the company’s stock valued at $7,345,000 after purchasing an additional 4,550 shares in the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

Utz Brands Price Performance

The firm has a market cap of $1.91 billion, a P/E ratio of -71.37, a PEG ratio of 1.18 and a beta of 1.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The company’s 50-day moving average is $16.51 and its two-hundred day moving average is $16.66.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were paid a dividend of $0.061 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, December 16th. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Utz Brands Company Profile

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp’s, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.