Sovos Brands (SOVO) Stock Forecast, Price & News

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Sovos Brands in the last year. There are currently 1 hold rating and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" SOVO shares.
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7 brokers have issued 1-year price objectives for Sovos Brands' stock. Their SOVO share price forecasts range from $16.00 to $24.00. On average, they anticipate the company's stock price to reach $19.93 in the next twelve months. This suggests a possible upside of 4.3% from the stock's current price.
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Sovos Brands' stock was trading at $14.37 at the beginning of the year. Since then, SOVO stock has increased by 33.0% and is now trading at $19.11.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our SOVO earnings forecast.

Sovos Brands, Inc. (NASDAQ:SOVO) announced its quarterly earnings results on Wednesday, March, 8th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $262.10 million for the quarter, compared to analyst estimates of $231.49 million. Sovos Brands had a negative net margin of 5.39% and a positive trailing twelve-month return on equity of 13.24%. The company's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS.

ETFs with the largest weight of Sovos Brands (NASDAQ:SOVO) stock in their portfolio include Innovator IBD Breakout Opportunities ETF (BOUT), First Trust Small Cap Growth AlphaDEX Fund (FYC), Vanguard Consumer Staples Fund (VDC).Fidelity MSCI Consumer Staples Index ETF (FSTA),

Sovos Brands updated its FY 2023 earnings guidance on Friday, May, 12th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $935.00 million-$955.00 million, compared to the consensus revenue estimate of $920.08 million.

(SOVO) raised $350 million in an initial public offering on Thursday, September 23rd 2021. The company issued 23,334,000 shares at $14.00-$16.00 per share.

Sovos Brands trades on the NASDAQ under the ticker symbol "SOVO."

Sovos Brands' stock is owned by a number of retail and institutional investors. Top institutional investors include Wellington Management Group LLP (6.13%), BlackRock Inc. (3.50%), FMR LLC (3.09%), Champlain Investment Partners LLC (2.98%), Ranger Investment Management L.P. (1.33%) and American Century Companies Inc. (0.83%). Insiders that own company stock include Christopher W Hall, International Corp/Ma Advent, Katie Gvazdinskas, Kirk A Jensen, Lisa Y O'driscoll, Priscilla Tuan, Risa Cretella, Robert L Graves and Todd R Lachman.
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Shares of SOVO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of SOVO stock can currently be purchased for approximately $19.11.

Sovos Brands (NASDAQ:SOVO) has a market capitalization of $1.93 billion and generates $878.37 million in revenue each year. The company earns $-53,450,000.00 in net income (profit) each year or ($0.49) on an earnings per share basis.

The company employs 608 workers across the globe.

Sovos Brands' mailing address is 168 CENTENNIAL PARKWAY SUITE 200, LOUISVILLE CO, 80027. The official website for the company is www.sovosbrands.com. The company can be reached via phone at 720-316-1225 or via email at ir@sovosbrands.com.