Utz Brands, Inc. (NYSE:UTZ – Get Free Report) 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.
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.
Get Our Latest Analysis on UTZ
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.
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