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

Utz Brands, Inc. (NYSE:UTZ) announced a dividend on Thursday, September 5th, NASDAQ reports. Stockholders 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 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. 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 Stock Up 0.4 %

Shares of UTZ stock traded up $0.07 on Friday, reaching $17.70. 585,893 shares of the company’s stock traded hands, compared to its average volume of 792,728. The business’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $17.44. The company has a market capitalization 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 has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. Utz Brands has a 12-month low of $11.17 and a 12-month high of $20.04.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on UTZ shares. Piper Sandler reissued an “overweight” rating and set a $22.00 target price on shares of Utz Brands in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Utz Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.

Insider Buying and Selling

In related news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $16.11 per share, with a total value of $64,440.00. Following the acquisition, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.00% 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.