Fintel reports that on September 25, 2023, Barclays maintained coverage of Utz Brands Inc - (NYSE:UTZ) with a Overweight recommendation.
Analyst Price Forecast Suggests 46.72% Upside
As of August 31, 2023, the average one-year price target for Utz Brands Inc - is 20.14. The forecasts range from a low of 18.18 to a high of $23.10. The average price target represents an increase of 46.72% from its latest reported closing price of 13.73.
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The projected annual revenue for Utz Brands Inc - is 1,464MM, an increase of 2.25%. The projected annual non-GAAP EPS is 0.55.
Utz Brands Inc - Declares $0.06 Dividend
On September 7, 2023 the company declared a regular quarterly dividend of $0.06 per share ($0.23 annualized). Shareholders of record as of September 18, 2023 will receive the payment on October 5, 2023. Previously, the company paid $0.06 per share.
At the current share price of $13.73 / share, the stock's dividend yield is 1.66%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.57%, the lowest has been 0.80%, and the highest has been 2.38%. The standard deviation of yields is 0.47 (n=213).
The current dividend yield is 0.19 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 24.73. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 380 funds or institutions reporting positions in Utz Brands Inc -. This is a decrease of 9 owner(s) or 2.31% in the last quarter. Average portfolio weight of all funds dedicated to UTZ is 0.14%, a decrease of 14.62%. Total shares owned by institutions increased in the last three months by 2.51% to 88,711K shares. 
The put/call ratio of UTZ is 2.44, indicating a bearish outlook.
What are Other Shareholders Doing?
Champlain Investment Partners holds 5,916K shares representing 7.29% ownership of the company. In it's prior filing, the firm reported owning 5,714K shares, representing an increase of 3.41%. The firm increased its portfolio allocation in UTZ by 0.58% over the last quarter.
Jpmorgan Chase holds 5,338K shares representing 6.58% ownership of the company. In it's prior filing, the firm reported owning 5,168K shares, representing an increase of 3.19%. The firm increased its portfolio allocation in UTZ by 628.86% over the last quarter.
Neuberger Berman Group holds 4,883K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 4,540K shares, representing an increase of 7.01%. The firm increased its portfolio allocation in UTZ by 101.70% over the last quarter.
T. Rowe Price Investment Management holds 4,353K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 4,486K shares, representing a decrease of 3.05%. The firm decreased its portfolio allocation in UTZ by 8.41% over the last quarter.
VSEIX - JPMorgan Small Cap Equity Fund Class I holds 3,363K shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 3,374K shares, representing a decrease of 0.30%. The firm increased its portfolio allocation in UTZ by 2.02% over the last quarter.
Utz Brands Background Information
(This description is provided by the company.)
Utz manufactures a diverse portfolio of savory snacks under popular brands including Utz®, On The Border®, Zapp’s®, Golden Flake®, Good Health®, Boulder Canyon®, Hawaiian® Brand, and Tortiyahs! ® among others. After nearly a century with strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally and internationally through grocery, mass merchant, club, convenience, drug and other channels. Based in Hanover, Pennsylvania, Utz operates fourteen facilities located in Pennsylvania, Alabama, Arizona, Illinois, Indiana, Louisiana, Washington, and Massachusetts.
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