Utz Brands (NYSE:UTZ) Given New $24.00 Price Target at Piper Sandler

Utz Brands (NYSE:UTZ) had its target price upped by Piper Sandler from $22.00 to $24.00 in a report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Barclays lowered their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Utz Brands currently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Utz Brands Stock Performance

Utz Brands stock opened at $17.34 on Friday. Utz Brands has a 52-week low of $11.67 and a 52-week high of $20.04. The firm has a market capitalization of $2.44 billion, a P/E ratio of -91.26, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. The stock has a fifty day moving average price of $17.31 and a two-hundred day moving average price of $17.24.

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.24% and a negative net margin of 0.99%. The company had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. During the same period last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, analysts anticipate that Utz Brands will post 0.74 EPS for the current fiscal year.

Utz Brands Announces Dividend

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.011 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is currently -126.32%.

Insiders Place Their Bets

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction dated 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 owns 451,117 shares in the company, valued at approximately $7,813,346.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Utz Brands by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock worth $110,113,000 after buying an additional 22,908 shares during the last quarter. Jennison Associates LLC boosted its holdings in Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after buying an additional 175,956 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Utz Brands by 22.0% during the second quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock worth $20,607,000 after buying an additional 223,462 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Utz Brands by 2.2% during the first quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock worth $16,119,000 after purchasing an additional 18,786 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock worth $11,582,000 after purchasing an additional 14,647 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.