UTZ Brands (NYSE:UTZ) Now Covered by Citigroup

Citigroup started coverage on shares of UTZ Brands (NYSE:UTZ) in a research note published on Friday, Benzinga reports. The brokerage issued a buy rating on the stock.

A number of other equities research analysts have also recently commented on UTZ. DA Davidson assumed coverage on shares of UTZ Brands in a research note on Thursday, July 2nd. They set a buy rating and a $17.00 price objective on the stock. Piper Sandler began coverage on shares of UTZ Brands in a research note on Wednesday, September 16th. They set a neutral rating and a $18.00 price objective on the stock.

Shares of NYSE:UTZ opened at $17.82 on Friday. UTZ Brands has a twelve month low of $9.84 and a twelve month high of $19.16. The stock has a 50 day simple moving average of $15.55. The firm has a market cap of $995.69 million, a P/E ratio of 44.55 and a beta of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.12%.

Hedge funds have recently made changes to their positions in the business. Emerald Advisers LLC purchased a new position in UTZ Brands in the 2nd quarter valued at $132,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of UTZ Brands during the 2nd quarter worth $161,000. Virtu Financial LLC purchased a new position in shares of UTZ Brands during the 2nd quarter worth $174,000. Amtrust Financial Services Inc. purchased a new position in shares of UTZ Brands during the 2nd quarter worth $195,000. Finally, HighTower Advisors LLC purchased a new position in shares of UTZ Brands during the 2nd quarter worth $221,000. Institutional investors own 58.62% of the company’s stock.

About UTZ Brands

UTZ Brands Inc does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company focuses on searching for a business in the consumer goods industry and related sectors.

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