Sovos Brands (SOVO) Stock Forecast, Price & News

9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Sovos Brands in the last twelve months. There are currently 8 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" SOVO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SOVO, but not buy additional shares or sell existing shares.
View SOVO analyst ratings or view top-rated stocks.

9 Wall Street research analysts have issued 12 month price objectives for Sovos Brands' stock. Their SOVO share price forecasts range from $16.00 to $24.00. On average, they predict the company's share price to reach $22.17 in the next year. This suggests that the stock has a possible downside of 2.0%.
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Sovos Brands' stock was trading at $14.37 at the start of the year. Since then, SOVO stock has increased by 57.5% and is now trading at $22.63.
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Sovos Brands saw a increase in short interest in August. As of August 31st, there was short interest totaling 4,180,000 shares, an increase of 31.4% from the August 15th total of 3,180,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is currently 3.6 days. Currently, 8.5% of the shares of the stock are short sold.
View Sovos Brands' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 1st 2023.
View our SOVO earnings forecast.

Sovos Brands, Inc. (NASDAQ:SOVO) released its earnings results on Wednesday, August, 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $217.60 million for the quarter, compared to the consensus estimate of $213.87 million. Sovos Brands had a positive trailing twelve-month return on equity of 14.14% and a negative net margin of 1.49%. The business's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS.

ETFs with the largest weight of Sovos Brands (NASDAQ:SOVO) stock in their portfolio include Invesco Dorsey Wright Consumer Staples Momentum ETF (PSL) and First Trust Small Cap Growth AlphaDEX Fund (FYC).First Trust Small Cap Core AlphaDEX Fund (FYX).

(SOVO) raised $350 million in an IPO 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 institutional and retail investors. Top institutional shareholders include BlackRock Inc. (4.19%), Champlain Investment Partners LLC (3.13%), Driehaus Capital Management LLC (1.83%), Ranger Investment Management L.P. (1.38%), Schroder Investment Management Group (1.01%) and Geode Capital Management LLC (0.94%). 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 $22.63.

Sovos Brands (NASDAQ:SOVO) has a market capitalization of $2.29 billion and generates $941.43 million in revenue each year. The company earns $-53,450,000.00 in net income (profit) each year or ($0.14) on an earnings per share basis.

The company employs 690 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.