Utz Brands (NYSE:UTZ) Releases Earnings Results, Beats Expectations By $0.02 EPS

Utz Brands (NYSE:UTZGet Rating) released its quarterly earnings results on Thursday. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02, MarketWatch Earnings reports. The company had revenue of $340.80 million for the quarter, compared to analyst estimates of $311.08 million. Utz Brands had a return on equity of 5.40% and a net margin of 1.74%. Utz Brands’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Utz Brands updated its FY 2022 guidance to EPS.

UTZ stock traded up $0.88 during trading hours on Thursday, reaching $13.28. The stock had a trading volume of 43,307 shares, compared to its average volume of 538,994. The stock has a market capitalization of $1.83 billion, a PE ratio of 63.15 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.48 and a quick ratio of 1.06. The stock has a 50-day simple moving average of $14.53 and a 200 day simple moving average of $15.50. Utz Brands has a fifty-two week low of $12.06 and a fifty-two week high of $26.80.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 28th. Shareholders of record on Monday, April 18th were paid a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Thursday, April 14th. Utz Brands’s dividend payout ratio is currently 104.77%.

A number of equities research analysts recently issued reports on UTZ shares. Zacks Investment Research lowered Utz Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Stephens lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $23.00 to $18.00 in a research report on Wednesday, January 19th. Oppenheimer cut shares of Utz Brands from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 8th. Finally, Credit Suisse Group cut shares of Utz Brands from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $16.50 in a report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.43.

In other news, CFO Ajay Kataria purchased 7,000 shares of the business’s stock in a transaction on Monday, March 7th. The stock was purchased at an average price of $13.79 per share, for a total transaction of $96,530.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Cary Devore purchased 7,225 shares of the business’s stock in a transaction on Monday, March 7th. The stock was purchased at an average price of $13.83 per share, with a total value of $99,921.75. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 48,399 shares of company stock valued at $666,617. Corporate insiders own 17.26% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. AlphaCrest Capital Management LLC raised its position in shares of Utz Brands by 11.5% in the first quarter. AlphaCrest Capital Management LLC now owns 26,660 shares of the company’s stock valued at $394,000 after purchasing an additional 2,739 shares during the period. Bank of New York Mellon Corp raised its position in shares of Utz Brands by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 342,939 shares of the company’s stock valued at $5,069,000 after purchasing an additional 28,011 shares during the period. Principal Financial Group Inc. raised its position in shares of Utz Brands by 7.7% in the first quarter. Principal Financial Group Inc. now owns 10,808 shares of the company’s stock valued at $160,000 after purchasing an additional 769 shares during the period. BlackRock Inc. increased its position in Utz Brands by 4.6% during the fourth quarter. BlackRock Inc. now owns 3,769,253 shares of the company’s stock worth $60,119,000 after acquiring an additional 165,636 shares during the period. Finally, KB Financial Partners LLC bought a new position in Utz Brands during the fourth quarter worth about $55,000. 44.28% of the stock is currently owned by institutional investors.

Utz Brands Company Profile (Get Rating)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

Further Reading

Earnings History for Utz Brands (NYSE:UTZ)

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