Utz Brands (NYSE:UTZ) Reaches New 12-Month High – Here’s What Happened

Utz Brands, Inc. (NYSE:UTZ)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $14.19 and last traded at $14.1850, with a volume of 62197 shares traded. The stock had previously closed at $14.16.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson restated a “neutral” rating and issued a $14.25 target price (down from $15.00) on shares of Utz Brands in a report on Wednesday, July 22nd. Barclays lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a report on Tuesday, July 21st. Wall Street Zen cut shares of Utz Brands from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Stephens set a $14.25 price target on shares of Utz Brands in a report on Tuesday, July 21st. Finally, BTIG Research cut shares of Utz Brands from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Utz Brands presently has an average rating of “Hold” and a consensus target price of $13.39.

Utz Brands Trading Up 0.2%

The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $10.29 and a two-hundred day simple moving average of $8.93. The firm has a market cap of $2.04 billion, a PE ratio of -42.98 and a beta of 0.73.

Utz Brands (NYSE:UTZ) last posted its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $371.80 million for the quarter, compared to analysts’ expectations of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. Equities analysts forecast that Utz Brands, Inc. will post 0.8 EPS for the current year.

Utz Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 22nd. Utz Brands’s payout ratio is presently -75.76%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UTZ. ProShare Advisors LLC raised its stake in Utz Brands by 8.7% during the 4th quarter. ProShare Advisors LLC now owns 13,457 shares of the company’s stock valued at $140,000 after buying an additional 1,074 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of Utz Brands by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 140,831 shares of the company’s stock worth $1,711,000 after buying an additional 1,075 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Utz Brands by 1.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 109,921 shares of the company’s stock worth $1,380,000 after buying an additional 1,137 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company’s stock worth $47,000 after acquiring an additional 1,623 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Utz Brands in the second quarter worth $25,000. 95.97% of the stock is currently owned by institutional investors.

Utz Brands Company Profile

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.