Roger K. Deromedi Sells 66,027 Shares of Utz Brands, Inc. (NYSE:UTZ) Stock

Utz Brands, Inc. (NYSE:UTZ) Director Roger K. Deromedi sold 66,027 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total transaction of $1,284,225.15. Following the completion of the sale, the director now directly owns 2,315,693 shares in the company, valued at approximately $45,040,228.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Utz Brands Price Performance

Utz Brands stock opened at $19.26 on Tuesday. The business’s fifty day moving average is $18.02 and its two-hundred day moving average is $16.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40. The firm has a market cap of $2.71 billion, a P/E ratio of -77.04, a P/E/G ratio of 1.32 and a beta of 0.97. Utz Brands, Inc. has a 52 week low of $11.17 and a 52 week high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The business had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $346.99 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Utz Brands, Inc. will post 0.72 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were paid a dividend of $0.059 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, April 12th. Utz Brands’s dividend payout ratio is -96.00%.

Analyst Ratings Changes

UTZ has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Truist Financial upped their price objective on Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. DA Davidson started coverage on Utz Brands in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. Stephens boosted their price target on Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Mizuho increased their price objective on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.42.

Institutional Trading of Utz Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. lifted its holdings in Utz Brands by 120.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after buying an additional 1,891 shares in the last quarter. Delta Asset Management LLC TN raised its position in shares of Utz Brands by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after acquiring an additional 2,500 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock valued at $89,000 after acquiring an additional 5,115 shares during the period. Parallel Advisors LLC boosted its holdings in Utz Brands by 11.6% in the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in Utz Brands in the third quarter valued at about $136,000. Institutional investors and hedge funds own 95.97% of the company’s stock.

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.