Utz Brands (NYSE:UTZ) Releases Quarterly Earnings Results

Utz Brands (NYSE:UTZGet Rating) released its quarterly earnings results on Thursday. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02, MarketWatch Earnings reports. Utz Brands had a net margin of 1.74% and a return on equity of 5.40%. The company had revenue of $340.80 million for the quarter, compared to analysts’ expectations of $311.08 million. During the same period last year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. Utz Brands updated its FY 2022 guidance to EPS.

UTZ stock opened at $14.28 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.48. The stock has a market cap of $1.97 billion, a P/E ratio of 49.24 and a beta of 0.64. The firm has a 50 day simple moving average of $14.53 and a 200 day simple moving average of $15.48. Utz Brands has a 52 week low of $12.06 and a 52 week high of $25.42.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 28th. Stockholders of record on Monday, April 18th were given a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, April 14th. Utz Brands’s dividend payout ratio (DPR) is 75.86%.

Several research firms recently issued reports on UTZ. Zacks Investment Research cut shares of Utz Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Stephens lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $23.00 to $18.00 in a research note on Wednesday, January 19th. Credit Suisse Group lowered shares of Utz Brands from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $16.50 in a research note on Tuesday, April 12th. Finally, Oppenheimer cut shares of Utz Brands from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.43.

In related news, CEO Dylan Lissette purchased 7,374 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The stock was acquired at an average cost of $13.77 per share, for a total transaction of $101,539.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ajay Kataria bought 7,000 shares of Utz Brands stock in a transaction on Monday, March 7th. The stock was acquired at an average price of $13.79 per share, with a total value of $96,530.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 48,399 shares of company stock valued at $666,617. 17.32% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Utz Brands by 1.6% in the first quarter. Northern Trust Corp now owns 600,910 shares of the company’s stock valued at $8,881,000 after purchasing an additional 9,527 shares during the period. Verition Fund Management LLC bought a new position in Utz Brands during the first quarter worth $149,000. Charles Schwab Investment Management Inc. increased its position in Utz Brands by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 450,883 shares of the company’s stock worth $6,665,000 after acquiring an additional 13,897 shares during the period. Baltimore Washington Financial Advisors Inc. bought a new position in Utz Brands during the first quarter worth $2,333,000. Finally, Clearbridge Investments LLC increased its position in Utz Brands by 11.9% during the first quarter. Clearbridge Investments LLC now owns 918,603 shares of the company’s stock worth $13,577,000 after acquiring an additional 97,965 shares during the period. 44.28% of the stock is currently owned by institutional investors.

About Utz Brands (Get Rating)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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Earnings History for Utz Brands (NYSE:UTZ)

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