NASDAQ:SOVO

Sovos Brands - SOVO Stock Forecast, Price & News

$13.03

-0.17 (-1.29%)

(As of 12/9/2022 02:33 PM ET)

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Today's Range: $12.88
▼
$13.15
50-Day Range: $13.20
▼
$14.58
52-Week Range: $9.52
▼
$17.41

Volume: 19,135 shs
Average Volume: 238,714 shs
Market Capitalization: $1.32 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $16.50

Sovos Brands MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.67 Rating Score
Upside/Downside: 24.7% Upside
$16.33 Price Target
Short Interest: Healthy
4.52% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: -0.84
Based on 7 Articles This Week
Insider Trading: Selling Shares
$1.45 M Sold Last Quarter
Proj. Earnings Growth: 12.07%
From $0.58 to $0.65 Per Share

Overall MarketRank^™

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

1.74 out of 5 stars

Retail/Wholesale Sector

121st out of 212 stocks

Food & Kindred Products Industry

9th out of 16 stocks

2.3

Analyst's Opinion

Consensus Rating
Sovos Brands has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $16.33, Sovos Brands has a forecasted upside of 24.7% from its current price of $13.10.
Amount of Analyst Coverage
Sovos Brands has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
4.52% of the float of Sovos Brands has been sold short.
Short Interest Ratio / Days to Cover
Sovos Brands has a short interest ratio ("days to cover") of 4.7.
Change versus previous month
Short interest in Sovos Brands has recently decreased by 1.20%, indicating that investor sentiment is improving.

0.0

Dividend Strength

Dividend Yield
Sovos Brands does not currently pay a dividend.
Dividend Growth
Sovos Brands does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for SOVO.

0.6

News and Social Media Coverage

News Sentiment
Sovos Brands has a news sentiment score of -0.84. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.38 average news sentiment score of Retail/Wholesale companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Sovos Brands this week, compared to 1 article on an average week.
Search Interest
Only 1 people have searched for SOVO on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Sovos Brands insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,449,848.00 in company stock.
Percentage Held by Insiders
Only 9.20% of the stock of Sovos Brands is held by insiders.
Percentage Held by Institutions
92.08% of the stock of Sovos Brands is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Sovos Brands are expected to grow by 12.07% in the coming year, from $0.58 to $0.65 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Sovos Brands is -45.17, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Sovos Brands is -45.17, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Growth Ratio
Sovos Brands has a PEG Ratio of 24.16. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Sovos Brands has a P/B Ratio of 2.59. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Sovos Brands (NASDAQ:SOVO) Stock

Sovos Brands, Inc., through its subsidiaries, manufactures and distributes consumer food products in the United States. The company operates in two segments, Dinners & Sauces, and Breakfast & Snacks. It provides pasta sauces, dry pasta, soups, frozen entrees, 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 founded in 1983 and is headquartered in Louisville, Colorado.

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SOVO Stock News Headlines

December 9, 2022 | americanbankingnews.com

Sovos Brands (NASDAQ:SOVO) Lowered to "Neutral" at UBS Group

December 8, 2022 | 247wallst.com

Opening Bell Analysts Research Calls for Thursday, December 8

December 8, 2022 | seekingalpha.com

Sovos Brands drops after UBS turns cautious on 2023 setup

December 6, 2022 | finance.yahoo.com

Returns On Capital At Sovos Brands (NASDAQ:SOVO) Have Stalled

November 6, 2022 | seekingalpha.com

Sovos Brands, Inc. (SOVO) Q3 2022 Earnings Call Transcript

November 3, 2022 | finanznachrichten.de

Sovos Brands, Inc.: Sovos Brands Reports Third Quarter 2022 Financial Results

November 2, 2022 | finance.yahoo.com

Sovos Brands, Inc. (SOVO) Matches Q3 Earnings Estimates

November 2, 2022 | seekingalpha.com

Sovos Brands Non-GAAP EPS of $0.14 in-line, revenue of $208.9M beats by $9.25M

November 2, 2022 | finance.yahoo.com

Sovos Brands Reports Third Quarter 2022 Financial Results

November 2, 2022 | finance.yahoo.com

Rao’s Parent Sovos Brands Raises Full-Year Guidance on Strong Q3; Shares Rise

October 26, 2022 | finance.yahoo.com

Sovos Brands, Inc. (SOVO) Earnings Expected to Grow: Should You Buy?

October 26, 2022 | finance.yahoo.com

Sovos Brands (NASDAQ:SOVO shareholders incur further losses as stock declines 3.9% this week, taking one-year losses to 13%

October 21, 2022 | seekingalpha.com

Sovos Brands: Attractive Business And Growth Opportunities, But Margin Of Safety Is Lacking

October 21, 2022 | reuters.com

Sovos Brands Inc

October 12, 2022 | finance.yahoo.com

Sovos Brands Announces Third Quarter 2022 Earnings Date

October 4, 2022 | seekingalpha.com

Sovos Brands: Strong Growth Continues

October 3, 2022 | finance.yahoo.com

Sovos Brands Appoints E. Yuri Hermida as Chief Growth Officer

September 30, 2022 | uk.finance.yahoo.com

Sovos Brands, Inc. (SOVO)

September 14, 2022 | finance.yahoo.com

SFM vs. SOVO: Which Stock Is the Better Value Option?

August 30, 2022 | finance.yahoo.com

Sovos Brands, Inc. to Participate in September Investor Conferences

August 19, 2022 | nasdaq.com

Don't Ignore The Fact That This Insider Just Sold Some Shares In Sovos Brands, Inc. (NASDAQ:SOVO)

August 16, 2022 | uk.finance.yahoo.com

Pancake Mixes Market to Record a CAGR of 5.43%, Dry Pancake Mixes (DPM) Segment to Record Highest Growth - Technavio

August 13, 2022 | finance.yahoo.com

Are Investors Undervaluing Sovos Brands, Inc. (NASDAQ:SOVO) By 49%?

August 11, 2022 | msn.com

Looking Into Sovos Brands Return On Capital Employed

August 10, 2022 | finance.yahoo.com

Sovos Brands Announces Pricing of Secondary Public Offering

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SOVO Company Calendar

Last Earnings: 11/02/2022
Today: 12/09/2022
Fiscal Year End: 12/31/2022
Next Earnings (Estimated): 3/21/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Food & kindred products
Sub-Industry: N/A
Sector: Retail/Wholesale
Current Symbol: NASDAQ:SOVO
CUSIP: N/A
CIK: 1856608
Web: www.sovosbrands.com
Phone: 720-316-1225
Fax: N/A
Employees: 608
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $16.33
High Stock Price Forecast: $17.00
Low Stock Price Forecast: $16.00
Forecasted Upside/Downside: +26.6%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.67
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.29)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 22.47
P/E Growth: 24.16
Net Income: $1.92 million
Net Margins: -3.55%
Pretax Margin: -4.60%
Return on Equity: 10.66%
Return on Assets: 4.57%

Debt

Debt-to-Equity Ratio: 0.97
Current Ratio: 2.21
Quick Ratio: 1.48

Sales & Book Value

Annual Sales: $719.19 million
Price / Sales: 1.83
Cash Flow: $0.87 per share
Price / Cash Flow: 15.00
Book Value: $5.05 per share
Price / Book: 2.58

Miscellaneous

Outstanding Shares: 100,960,000
Free Float: 91,673,000
Market Cap: $1.32 billion
Optionable: Not Optionable
Beta: N/A

Key Executives

Mr. Todd R. Lachman (Age 59)
Founder, Pres, CEO & Director
Comp: $1.82M

Mr. Christopher W. Hall (Age 60)
Chief Financial Officer
Comp: $721.54k

Mr. Robert L. Graves (Age 55)
VP of Strategic Initiatives & Director
Comp: $398.6k

Mr. Kirk A. Jensen (Age 47)
Chief Operating Officer

Ms. Lisa Y. O'Driscoll (Age 47)
Chief Admin. Officer

Mr. Joshua Levine
VP of Investor Relations

Ms. Isobel A. Jones Esq. (Age 55)
Chief Legal Officer, Gen. Counsel & Sec.

Ms. Priscilla Tuan (Age 50)
Chief Marketing Officer

Mr. Jason Parasco
Sr. VP & Head of Sales

Ms. Katie J. Gvazdinskas (Age 42)
Chief HR Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

SOVO Stock - Frequently Asked Questions

Should I buy or sell Sovos Brands stock right now?: 3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Sovos Brands in the last year. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" SOVO shares.
View SOVO analyst ratings or view top-rated stocks.
What is Sovos Brands' stock price forecast for 2023?: 3 brokerages have issued 1 year price objectives for Sovos Brands' stock. Their SOVO share price forecasts range from $16.00 to $17.00. On average, they expect the company's stock price to reach $16.50 in the next year. This suggests a possible upside of 25.0% from the stock's current price.
View analysts price targets for SOVO or view top-rated stocks among Wall Street analysts.
How have SOVO shares performed in 2022?: Sovos Brands' stock was trading at $15.05 on January 1st, 2022. Since then, SOVO stock has decreased by 12.3% and is now trading at $13.20.
View the best growth stocks for 2022 here.
When is Sovos Brands' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 21st 2023.
View our SOVO earnings forecast.
How were Sovos Brands' earnings last quarter?: Sovos Brands, Inc. (NASDAQ:SOVO) released its quarterly earnings results on Wednesday, November, 2nd. The company reported $0.14 EPS for the quarter, hitting analysts' consensus estimates of $0.14. The firm earned $208.91 million during the quarter, compared to analysts' expectations of $199.65 million. Sovos Brands had a positive trailing twelve-month return on equity of 10.66% and a negative net margin of 3.55%. The company's revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share.
What guidance has Sovos Brands issued on next quarter's earnings?: Sovos Brands updated its FY 2022 earnings guidance on Wednesday, November, 9th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $840.00 million-$850.00 million, compared to the consensus revenue estimate of $833.11 million.

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 retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (3.62%), BlackRock Inc. (2.85%), Macquarie Group Ltd. (0.81%), Lisanti Capital Growth LLC (0.61%), State Street Corp (0.54%) and Thornburg Investment Management Inc. (0.42%). Insiders that own company stock include International Corp/Ma Advent, Lisa Y O'driscoll, 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 $13.20.
How much money does Sovos Brands make?: Sovos Brands (NASDAQ:SOVO) has a market capitalization of $1.33 billion and generates $719.19 million in revenue each year. The company earns $1.92 million in net income (profit) each year or ($0.29) on an earnings per share basis.
How many employees does Sovos Brands have?: The company employs 608 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 12/9/2022 by MarketBeat.com Staff

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Sovos Brands - SOVO Stock Forecast, Price & News

Sovos Brands MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

Company Ownership

Earnings and Valuation

About Sovos Brands (NASDAQ:SOVO) Stock

SOVO Stock News Headlines

SOVO Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders & Institutions

SOVO Stock - Frequently Asked Questions

Overall MarketRank^™