Utz Brands, Inc. Announces Quarterly Dividend of $0.06 (NYSE:UTZ)

Utz Brands, Inc. (NYSE:UTZ) declared a quarterly dividend on Thursday, June 6th, NASDAQ reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.059 per share on Wednesday, July 3rd. This represents a $0.24 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, June 17th.

Utz Brands has increased its dividend by an average of 27.5% annually over the last three years. Utz Brands has a payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Utz Brands to earn $0.84 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 28.6%.

Utz Brands Stock Down 0.8 %

Shares of NYSE UTZ opened at $17.70 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40. Utz Brands has a one year low of $11.17 and a one year high of $20.04. The company’s fifty day moving average is $18.17 and its two-hundred day moving average is $17.41.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, equities analysts forecast that Utz Brands will post 0.72 EPS for the current year.

Insider Buying and Selling

In other Utz Brands news, Director Roger K. Deromedi sold 66,027 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $19.45, for a total value of $1,284,225.15. Following the completion of the transaction, the director now directly owns 2,315,693 shares in the company, valued at approximately $45,040,228.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Christina Choi sold 3,160 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $17.98, for a total transaction of $56,816.80. Following the transaction, the director now directly owns 29,740 shares in the company, valued at approximately $534,725.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger K. Deromedi sold 66,027 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total transaction of $1,284,225.15. Following the completion of the sale, the director now owns 2,315,693 shares of the company’s stock, valued at $45,040,228.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 497,178 shares of company stock worth $9,387,927. 17.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Mizuho raised their price objective on Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada lifted their price target on Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler increased their price objective on shares of Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Needham & Company LLC upped their price target on shares of Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, DA Davidson began coverage on shares of Utz Brands in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.42.

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.