Utz Brands (NYSE:UTZ) Reaches New 12-Month Low – Here’s Why

Utz Brands, Inc. (NYSE:UTZ) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.00 and last traded at $13.03, with a volume of 30915 shares. The stock had previously closed at $13.36.

Analyst Ratings Changes

UTZ has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Barclays dropped their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Mizuho dropped their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, TD Cowen dropped their price objective on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Utz Brands Stock Performance

The firm’s 50 day moving average price is $15.37 and its two-hundred day moving average price is $16.37. 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 firm has a market cap of $1.86 billion, a PE ratio of -69.61, a PEG ratio of 0.85 and a beta of 1.02.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were given a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Hedge Funds Weigh In On Utz Brands

A number of hedge funds have recently made changes to their positions in the stock. Newton One Investments LLC acquired a new stake in shares of Utz Brands in the 4th quarter valued at $26,000. Venturi Wealth Management LLC acquired a new stake in Utz Brands during the 4th quarter worth $54,000. nVerses Capital LLC acquired a new stake in Utz Brands during the 3rd quarter worth $142,000. Moody National Bank Trust Division acquired a new stake in Utz Brands during the 4th quarter worth $169,000. Finally, Ballentine Partners LLC acquired a new stake in Utz Brands during the 4th quarter worth $220,000. Hedge funds and other 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.