DA Davidson Cuts Utz Brands (NYSE:UTZ) Price Target to $16.00

Utz Brands (NYSE:UTZ) had its price target reduced by DA Davidson from $18.00 to $16.00 in a research report sent to investors on Monday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Barclays lowered their price objective on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Mizuho decreased their target price on Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Piper Sandler cut their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada cut their price target on Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, TD Cowen cut their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.30.

Utz Brands Stock Down 2.8 %

UTZ opened at $13.75 on Monday. 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 business has a 50 day simple moving average of $14.17 and a 200-day simple moving average of $16.13. The stock has a market capitalization of $1.94 billion, a P/E ratio of 76.39, a P/E/G ratio of 0.86 and a beta of 1.02. Utz Brands has a 12 month low of $12.71 and a 12 month high of $20.04.

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

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a dividend of $0.061 per share. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Monday, December 16th. Utz Brands’s dividend payout ratio (DPR) is presently 133.33%.

Insider Buying and Selling at Utz Brands

In other news, CEO Howard A. Friedman purchased 3,525 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $14.16 per share, with a total value of $49,914.00. Following the purchase, the chief executive officer now owns 265,729 shares in the company, valued at $3,762,722.64. This trade represents a 1.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Utz Brands

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Utz Brands by 4.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,728 shares of the company’s stock valued at $2,251,000 after acquiring an additional 6,268 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Utz Brands during the 4th quarter valued at $512,000. Snowden Capital Advisors LLC lifted its position in shares of Utz Brands by 6.9% during the 4th quarter. Snowden Capital Advisors LLC now owns 35,318 shares of the company’s stock valued at $555,000 after acquiring an additional 2,282 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Utz Brands by 51.1% during the 4th quarter. ProShare Advisors LLC now owns 18,569 shares of the company’s stock valued at $291,000 after acquiring an additional 6,279 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Utz Brands by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company’s stock valued at $584,000 after acquiring an additional 1,596 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

About Utz Brands

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.