Utz Brands, Inc. (UTZ) to Distribute Quarterly Dividend of $0.06 on October 1st

Utz Brands, Inc. (NYSE:UTZ) declared a quarterly dividend on Thursday, September 10th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.063 per share on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, September 21st.

Utz Brands has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 3 years. Utz Brands has a dividend payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Utz Brands to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 29.1%.

Utz Brands Price Performance

NYSE:UTZ opened at $14.26 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.69 and a current ratio of 1.06. The stock’s 50-day simple moving average is $13.37 and its 200 day simple moving average is $9.62. The company has a market cap of $2.05 billion, a P/E ratio of -43.20 and a beta of 0.76. Utz Brands has a 52-week low of $6.78 and a 52-week high of $14.33.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $371.80 million during 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 quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, sell-side analysts forecast that Utz Brands will post 0.8 EPS for the current fiscal year.

Institutional Trading of Utz Brands

Several large investors have recently modified their holdings of the stock. Copeland Capital Management LLC grew its stake in Utz Brands by 17.8% during the first quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company’s stock worth $32,183,000 after buying an additional 613,699 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Utz Brands by 21.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,998,089 shares of the company’s stock worth $15,824,000 after acquiring an additional 355,460 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Utz Brands during the second quarter valued at approximately $14,462,000. Clearbridge Investments LLC boosted its holdings in shares of Utz Brands by 9.4% in the 4th quarter. Clearbridge Investments LLC now owns 932,242 shares of the company’s stock valued at $9,677,000 after purchasing an additional 80,205 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Utz Brands by 61.4% in the 1st quarter. Royal Bank of Canada now owns 937,060 shares of the company’s stock valued at $7,421,000 after purchasing an additional 356,428 shares during the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Company Profile

Utz Brands, Inc is a U.S.-based snack food manufacturer and distributor headquartered in Hanover, Pennsylvania. The company produces and sells a broad range of branded salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, popcorn, pork rinds and other snack foods.

Its portfolio includes the Utz, Zapp’s, Boulder Canyon, On The Border and other regional and specialty snack brands. Utz products are sold through grocery stores, mass merchants, club retailers, convenience stores and other retail channels, as well as through e-commerce and foodservice distributors.

Founded in 1921 as a family-operated potato chip business in Hanover, Utz expanded through organic growth and acquisitions into a national snack food company.