Mizuho Cuts Utz Brands (NYSE:UTZ) Price Target to $21.00

Utz Brands (NYSE:UTZ) had its price objective lowered by Mizuho from $24.00 to $21.00 in a research report report published on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on UTZ. Piper Sandler boosted their target price on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Barclays reduced their target price 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $18.02 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The stock has a 50 day moving average price of $17.32 and a 200 day moving average price of $17.24. The stock has a market capitalization of $2.54 billion, a PE ratio of -94.84, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Utz Brands has a 52 week low of $11.67 and a 52 week high of $20.04.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The business had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. During the same period in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts predict that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The firm also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio is currently -121.05%.

Insiders Place Their Bets

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Cary Devore sold 30,000 shares of Utz Brands 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 sale, the executive vice president now directly owns 451,117 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in UTZ. Victory Capital Management Inc. grew its stake in shares of Utz Brands by 19.0% in the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after purchasing an additional 235,622 shares during the last quarter. Jennison Associates LLC raised its position in shares of 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 acquiring an additional 175,956 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Utz Brands by 2.2% in the first quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock valued at $16,119,000 after acquiring an additional 18,786 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Utz Brands by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock valued at $11,582,000 after purchasing an additional 14,647 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Utz Brands by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company’s stock worth $7,437,000 after purchasing an additional 11,492 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.