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Sovos Brands (SOVO) Stock Forecast, Price & News

$22.59
-0.05 (-0.22%)
(As of 09/26/2023 ET)
Compare
Today's Range
$22.58
$22.68
50-Day Range
$17.69
$22.67
52-Week Range
$12.74
$22.73
Volume
750,691 shs
Average Volume
874,171 shs
Market Capitalization
$2.29 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$22.17

Sovos Brands MarketRank™ Forecast

Analyst Rating
Hold
2.11 Rating Score
Upside/​Downside
1.9% Downside
$22.17 Price Target
Short Interest
Bearish
8.47% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.78mentions of Sovos Brands in the last 14 days
Based on 3 Articles This Week
Insider Trading
Selling Shares
$4.87 M Sold Last Quarter
Proj. Earnings Growth
16.18%
From $0.68 to $0.79 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.71 out of 5 stars

Retail/Wholesale Sector

178th out of 206 stocks

Food & Kindred Products Industry

14th out of 16 stocks


SOVO stock logo

About Sovos Brands (NASDAQ:SOVO) Stock

Sovos Brands, Inc., through its subsidiaries, operates as a consumer-packaged food company that manufactures and distributes consumer food products in the United States. The company operates in two segments, Dinner and Sauces, and Breakfast and Snacks. It provides pasta sauces, dry pasta, soups, frozen entrees, frozen pizza, yogurts, pancake and waffle mixes, other baking mixes, and frozen waffles under the Rao's, Michael Angelo's, noosa, and Birch Benders brands. The company sells its products principally to retail outlets and wholesale distributors, including traditional supermarkets, mass merchants, warehouse clubs, wholesalers, specialty food distributors, military commissaries, and non-food outlets, such as drug store chains, dollar stores, and e-commerce retailers. Sovos Brands, Inc. was incorporated in 2017 and is headquartered in Louisville, Colorado.

SOVO Price History

SOVO Stock News Headlines

Sovos Brands (NASDAQ:SOVO) Reaches New 52-Week High at $22.73
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Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
Experts: NVIDIA Now "Too Big to Succeed"
Several of the market’s top analysts are sounding the alarm that NVIDIA’s share price may have reached its breaking point.
Q4 2023 Campbell Soup Co Earnings Call
Analyst Ratings for Sovos Brands
Why Italian Sauce Maker Sovos Brands' Stock Is Soaring Today
See More Headlines
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SOVO Company Calendar

Last Earnings
8/09/2023
Today
9/26/2023
Next Earnings (Estimated)
11/01/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Food & kindred products
Sub-Industry
N/A
Current Symbol
NASDAQ:SOVO
Fax
N/A
Employees
690
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$22.17
High Stock Price Forecast
$24.00
Low Stock Price Forecast
$16.00
Forecasted Upside/Downside
-2.0%
Consensus Rating
Hold
Rating Score (0-4)
2.11
Research Coverage
9 Analysts

Profitability

Net Income
$-53,450,000.00
Pretax Margin
-1.34%

Debt

Sales & Book Value

Annual Sales
$941.43 million
Cash Flow
$0.99 per share
Book Value
$4.71 per share

Miscellaneous

Free Float
93,121,000
Market Cap
$2.29 billion
Optionable
Not Optionable
Beta
0.01
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Key Executives

  • Mr. Todd R. LachmanMr. Todd R. Lachman (Age 60)
    Founder, Pres, CEO & Director
    Comp: $2.71M
  • Mr. Kirk A. Jensen (Age 48)
    Chief Operating Officer
    Comp: $983.75k
  • Mr. E. Yuri Hermida (Age 49)
    Chief Growth Officer
    Comp: $691.55k
  • Mr. Christopher W. Hall (Age 61)
    Chief Financial Officer
  • Ms. Lisa Y. O'Driscoll (Age 48)
    Chief Admin. Officer
  • Mr. Joshua Levine
    VP of Investor Relations
  • Ms. Isobel A. Jones Esq. (Age 56)
    Chief Legal Officer, Gen. Counsel & Sec.
  • Ms. Risa Cretella (Age 42)
    Chief Sales Officer
  • Ms. Katie J. Gvazdinskas (Age 43)
    Chief HR Officer
  • Mr. Lance Byers
    Sr. VP of Manufacturing & Logistics













SOVO Stock - Frequently Asked Questions

Should I buy or sell Sovos Brands stock right now?

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.

What is Sovos Brands' stock price forecast for 2023?

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%.
View analysts price targets for SOVO
or view top-rated stocks among Wall Street analysts.

How have SOVO shares performed in 2023?

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.
View the best growth stocks for 2023 here
.

Are investors shorting Sovos Brands?

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
.

When is Sovos Brands' next earnings date?

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

How were Sovos Brands' earnings last quarter?

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.

What ETFs hold Sovos Brands' stock?

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).

When did Sovos Brands IPO?

(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.

What is Sovos Brands' stock symbol?

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

Who are Sovos Brands' major shareholders?

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.
View institutional ownership trends
.

How do I buy shares of Sovos Brands?

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.
Compare Top Brokerages Here.

What is Sovos Brands' stock price today?

One share of SOVO stock can currently be purchased for approximately $22.63.

How much money does Sovos Brands make?

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.

How many employees does Sovos Brands have?

The company employs 690 workers across the globe.

How can I contact Sovos Brands?

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.

This page (NASDAQ:SOVO) was last updated on 9/26/2023 by MarketBeat.com Staff

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