Utz Brands (NYSE:UTZ) Trading Down 3.9% – Here’s Why

Utz Brands, Inc. (NYSE:UTZ) shares were down 3.9% on Tuesday . The stock traded as low as $12.78 and last traded at $12.73. Approximately 150,851 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,209,491 shares. The stock had previously closed at $13.25.

Wall Street Analysts Forecast Growth

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

Utz Brands Price Performance

The stock has a market capitalization of $1.91 billion, a PE ratio of -71.24, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The business’s 50-day moving average price is $15.22 and its 200 day moving average price is $16.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a $0.061 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.80%. 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%.

Institutional Investors Weigh In On Utz Brands

Several hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Utz Brands during the fourth quarter worth about $339,000. M&T Bank Corp raised its holdings in shares of Utz Brands by 18.9% during the 4th quarter. M&T Bank Corp now owns 12,678 shares of the company’s stock valued at $198,000 after buying an additional 2,011 shares in the last quarter. Victory Capital Management Inc. lifted its position in Utz Brands by 2.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,510,472 shares of the company’s stock worth $23,654,000 after buying an additional 36,425 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Utz Brands by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 576,730 shares of the company’s stock worth $9,032,000 after buying an additional 5,569 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. raised its stake in shares of Utz Brands by 33.3% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $1,315,000 after acquiring an additional 21,000 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors.

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.