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

Utz Brands, Inc. (NYSE:UTZ) announced a dividend on Thursday, September 5th, NASDAQ reports. Investors of record on Monday, September 16th will be given a dividend of 0.011 per share on Thursday, October 3rd. The ex-dividend date of this dividend is Monday, September 16th.

Utz Brands has raised its dividend payment by an average of 27.5% annually over the last three years. Utz Brands has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Utz Brands stock traded up $0.07 on Friday, reaching $17.70. 585,893 shares of the stock were exchanged, compared to its average volume of 792,728. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The firm has a fifty day moving average price of $16.23 and a two-hundred day moving average price of $17.44. The stock has a market cap of $2.49 billion, a PE ratio of -70.78, a PEG ratio of 1.17 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. Sell-side analysts anticipate that Utz Brands will post 0.73 EPS for the current year.

Insider Activity

In other news, Director Bruce John Lindeman bought 4,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the acquisition, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays reduced their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.17.

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.