Utz Brands, Inc. Declares Quarterly Dividend of $0.01 (NYSE:UTZ)

Utz Brands, Inc. (NYSE:UTZ) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.011 per share on Thursday, April 24th. This represents a $0.04 annualized dividend and a yield of 0.31%.

Utz Brands has increased its dividend payment by an average of 5.3% per year over the last three years. Utz Brands has a dividend payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Utz Brands Trading Up 2.4 %

Shares of NYSE:UTZ traded up $0.33 during mid-day trading on Thursday, hitting $14.12. The company had a trading volume of 791,028 shares, compared to its average volume of 793,976. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands has a one year low of $12.71 and a one year high of $20.04. The firm has a fifty day moving average price of $13.66 and a 200 day moving average price of $15.66. The company has a market capitalization of $2.00 billion, a PE ratio of 78.47, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $341.05 million during the quarter, compared to the consensus estimate of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, research analysts forecast that Utz Brands will post 0.85 EPS for the current year.

Insider Activity at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 496,038 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard A. Friedman purchased 3,525 shares of the stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the transaction, the chief executive officer now owns 265,729 shares of the company’s stock, valued at approximately $3,762,722.64. This trade represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on UTZ shares. Barclays decreased their price target on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Mizuho decreased their target price on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada dropped their price target on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. TD Cowen lowered their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, DA Davidson dropped their target price on Utz Brands from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.25.

Utz Brands Company Profile

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.