Barclays Lowers Utz Brands (NYSE:UTZ) Price Target to $17.00

Utz Brands (NYSE:UTZ) had its price target cut by Barclays from $19.00 to $17.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the stock. TD Cowen reduced their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler reduced their target price on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Mizuho reduced their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Utz Brands has a consensus rating of “Moderate Buy” and a consensus target price of $20.20.

Utz Brands Price Performance

Utz Brands stock opened at $14.26 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The firm has a market cap of $2.01 billion, a P/E ratio of -75.07, a P/E/G ratio of 0.86 and a beta of 1.03. The business’s fifty day moving average is $16.09 and its two-hundred day moving average is $16.53. Utz Brands has a 52 week low of $13.36 and a 52 week high of $20.04.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 company 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 company posted $0.17 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors 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. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.71%. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Utz Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Utz Brands by 9.5% during the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares during the period. Vestcor Inc boosted its position in shares of Utz Brands by 11.4% in the third quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after acquiring an additional 30,400 shares during the period. Geode Capital Management LLC boosted its position in shares of Utz Brands by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after acquiring an additional 47,320 shares during the period. Kimelman & Baird LLC bought a new stake in shares of Utz Brands in the second quarter valued at about $907,000. Finally, Barclays PLC boosted its position in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after acquiring an additional 97,767 shares during the period. 95.97% of the stock is owned by institutional investors.

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.