Mizuho Cuts Utz Brands (NYSE:UTZ) Price Target to $19.00

Utz Brands (NYSE:UTZ) had its price objective lowered by Mizuho from $21.00 to $19.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently issued reports on UTZ. Piper Sandler dropped their price target on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Barclays dropped their target price on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, TD Cowen decreased their price target on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Utz Brands Price Performance

Shares of NYSE:UTZ opened at $13.70 on Monday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -72.11, a PEG ratio of 0.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $14.93 and a 200 day simple moving average of $16.31. Utz Brands has a one year low of $12.71 and a one year high of $20.04.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were issued a dividend of $0.061 per share. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, December 16th. Utz Brands’s payout ratio is currently -126.32%.

Institutional Trading of Utz Brands

A number of hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares during the period. Vestcor Inc increased its stake in shares of Utz Brands by 11.4% in the third quarter. Vestcor Inc now owns 296,100 shares of the company’s stock worth $5,241,000 after buying an additional 30,400 shares during the period. Geode Capital Management LLC raised its holdings in Utz Brands by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after buying an additional 47,320 shares during the last quarter. Barclays PLC boosted its position in Utz Brands by 21.4% during the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after buying an additional 97,767 shares during the period. Finally, Truist Financial Corp grew its holdings in Utz Brands by 20.8% in the 2nd quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after acquiring an additional 4,176 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.

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.