Barclays Boosts Utz Brands (NYSE:UTZ) Price Target to $23.00

Utz Brands (NYSE:UTZ) had its target price hoisted by Barclays from $20.00 to $23.00 in a research report released on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently issued reports on the company. Piper Sandler raised their target price on Utz Brands from $18.00 to $21.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Needham & Company LLC lifted their price objective on Utz Brands from $20.50 to $22.00 and gave the stock a buy rating in a research report on Friday. Royal Bank of Canada upped their target price on Utz Brands from $19.00 to $23.00 and gave the company an outperform rating in a report on Friday. DA Davidson started coverage on shares of Utz Brands in a report on Friday, March 1st. They issued a neutral rating and a $20.00 price target on the stock. Finally, Stephens boosted their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the company an overweight rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $20.42.

Utz Brands Price Performance

UTZ opened at $19.26 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.40 and a quick ratio of 0.95. Utz Brands has a 1 year low of $11.17 and a 1 year high of $20.04. The stock’s 50 day simple moving average is $18.02 and its 200 day simple moving average is $16.28. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -77.04, a PEG ratio of 1.32 and a beta of 0.97.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. As a group, analysts predict that Utz Brands will post 0.72 earnings per share for the current year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Shareholders of record on Monday, April 15th were paid a dividend of $0.059 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. Utz Brands’s payout ratio is presently -96.00%.

Insider Transactions at Utz Brands

In other news, EVP Mark Schreiber sold 20,103 shares of Utz Brands stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $19.47, for a total value of $391,405.41. Following the completion of the transaction, the executive vice president now owns 108,126 shares of the company’s stock, valued at approximately $2,105,213.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Mark Schreiber sold 20,103 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $19.47, for a total transaction of $391,405.41. Following the completion of the sale, the executive vice president now owns 108,126 shares of the company’s stock, valued at $2,105,213.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger K. Deromedi sold 66,027 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total value of $1,284,225.15. Following the sale, the director now owns 2,315,693 shares in the company, valued at $45,040,228.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 695,311 shares of company stock valued at $12,430,556. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SRS Capital Advisors Inc. grew its stake in shares of Utz Brands by 120.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after acquiring an additional 1,891 shares during the period. Delta Asset Management LLC TN boosted its holdings in Utz Brands by 100.0% in the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares during the last quarter. International Assets Investment Management LLC grew its position in Utz Brands by 1,428.8% in the 4th quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after purchasing an additional 5,115 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in Utz Brands during the 3rd quarter valued at $136,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Utz Brands by 11.6% during the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after buying an additional 1,033 shares during the period. Institutional investors 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.