Utz Brands, Inc. (NYSE:UTZ) Plans $0.01 Quarterly Dividend

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders of record on Monday, April 7th will be given a dividend of 0.011 per share on Thursday, April 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%.

Utz Brands has raised its dividend payment by an average of 5.3% annually over the last three years. Utz Brands has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Utz Brands Price Performance

Shares of UTZ stock opened at $14.12 on Friday. The firm has a fifty day simple moving average of $13.66 and a 200-day simple moving average of $15.65. The company has a market capitalization of $2.00 billion, a PE ratio of 78.47, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. Utz Brands has a twelve month low of $12.71 and a twelve month high of $20.04. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The company had revenue of $341.05 million during the quarter, compared to analysts’ expectations of $349.93 million. During the same period in the prior year, the company posted $0.16 EPS. Equities research analysts anticipate that Utz Brands will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Cc Collier Holdings, Llc sold 496,038 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $13.40, for a total transaction of $6,646,909.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard A. Friedman bought 3,525 shares of the company’s stock in a transaction on Monday, February 24th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the completion of the transaction, the chief executive officer now directly owns 265,729 shares of the company’s stock, valued at $3,762,722.64. This trade represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

UTZ has been the topic of several analyst reports. Mizuho dropped their price objective on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. DA Davidson dropped their price target on shares of Utz Brands from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Royal Bank of Canada reduced their price objective on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Piper Sandler dropped their target price on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, TD Cowen reduced their price target on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

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.