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

Utz Brands, Inc. (NYSE:UTZ) declared a dividend on Thursday, September 5th, NASDAQ reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.011 per share on Thursday, October 3rd. The ex-dividend date is Monday, September 16th.

Utz Brands has raised its dividend payment by an average of 27.5% per year over the last three years. Utz Brands has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Utz Brands to earn $0.85 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 28.2%.

Utz Brands Trading Up 0.4 %

Shares of NYSE UTZ traded up $0.07 during midday trading on Friday, hitting $17.70. The stock had a trading volume of 585,893 shares, compared to its average volume of 792,728. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04. The firm has a market cap of $2.49 billion, a P/E ratio of -70.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. The company’s 50-day simple moving average is $16.23 and its 200 day simple moving average is $17.44.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The company had revenue of $356.20 million for the quarter, compared to the consensus estimate of $356.23 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Research analysts anticipate that Utz Brands will post 0.73 EPS for the current year.

Insider Buying and Selling

In other Utz Brands news, Director Bruce John Lindeman purchased 4,000 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 42,480 shares in the company, valued at $684,352.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on UTZ. Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Wednesday, August 21st. Finally, Barclays decreased their price objective on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.17.

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.