Utz Brands (UTZ) Declares $0.06 Dividend

Utz Brands said on April 6, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.23 annualized). Previously, the company paid $0.06 per share.

Shares must be purchased before the ex-div date of April 14, 2023 to qualify for the dividend. Shareholders of record as of April 17, 2023 will receive the payment on May 4, 2023.

At the current share price of $17.19 / share, the stock's dividend yield is 1.33%. 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 0.49 (n=192).

The current dividend yield is 0.51 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is -47.12. 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 has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 375 funds or institutions reporting positions in Utz Brands. This is a decrease of 2 owner(s) or 0.53% in the last quarter. Average portfolio weight of all funds dedicated to UTZ is 0.17%, an increase of 8.76%. Total shares owned by institutions decreased in the last three months by 2.96% to 83,014K shares. The put/call ratio of UTZ is 0.26, indicating a bullish outlook.

Analyst Price Forecast Suggests 16.45% Upside

As of April 6, 2023, the average one-year price target for Utz Brands is $20.02. The forecasts range from a low of $18.18 to a high of $23.10. The average price target represents an increase of 16.45% from its latest reported closing price of $17.19.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Utz Brands is $1,464MM, an increase of 3.95%. The projected annual non-GAAP EPS is $0.55.

What are Other Shareholders Doing?

Raymond James Financial Services Advisors holds 42K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 50K shares, representing a decrease of 16.94%. The firm decreased its portfolio allocation in UTZ by 18.82% over the last quarter.

ISCG - iShares Morningstar Small-Cap Growth ETF holds 7K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 5K shares, representing an increase of 18.41%. The firm increased its portfolio allocation in UTZ by 12.64% over the last quarter.

Outfitter Financial holds 47K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 47K shares, representing a decrease of 0.85%. The firm decreased its portfolio allocation in UTZ by 3.43% over the last quarter.

FECGX - Fidelity Small Cap Growth Index Fund holds 16K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 16K shares, representing a decrease of 0.67%. The firm increased its portfolio allocation in UTZ by 1.51% over the last quarter.

IRSIX - Voya RussellTM Small Cap Index Portfolio DV holds 26K shares representing 0.03% ownership of the company. No change in 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.

This story originally appeared on Fintel.