Sovos Brands, Inc. (NASDAQ:SOVO – Get Free Report) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $23.06.
Separately, Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price target on shares of Sovos Brands in a research report on Friday, February 23rd.
Get Our Latest Analysis on Sovos Brands
Insiders Place Their Bets
Hedge Funds Weigh In On Sovos Brands
Large investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC acquired a new position in shares of Sovos Brands in the 4th quarter valued at $34,000. Headlands Technologies LLC acquired a new position in Sovos Brands in the fourth quarter worth about $37,000. Tower Research Capital LLC TRC lifted its stake in Sovos Brands by 165.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,453 shares of the company’s stock worth $48,000 after purchasing an additional 1,529 shares during the period. Strs Ohio acquired a new stake in Sovos Brands during the third quarter valued at approximately $128,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Sovos Brands in the 3rd quarter valued at approximately $149,000.
Sovos Brands Stock Performance
SOVO stock opened at $22.98 on Friday. The company has a 50-day simple moving average of $22.77 and a 200 day simple moving average of $22.28. The company has a market capitalization of $2.34 billion, a P/E ratio of 79.24, a PEG ratio of 1.44 and a beta of 0.02. The company has a quick ratio of 2.26, a current ratio of 2.90 and a debt-to-equity ratio of 0.91. Sovos Brands has a fifty-two week low of $13.48 and a fifty-two week high of $23.00.
Sovos Brands (NASDAQ:SOVO – Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $292.05 million for the quarter, compared to analyst estimates of $271.10 million. Sovos Brands had a net margin of 2.96% and a return on equity of 16.33%. Sell-side analysts predict that Sovos Brands will post 0.93 earnings per share for the current fiscal year.
Sovos Brands Company Profile
Sovos Brands, Inc, through its subsidiaries, operates as a consumer-packaged food company that manufactures, distributes, and sells consumer food products in the United States. It operates in two segments, Dinner and Sauces, and Breakfast and Snacks. The company's principal products comprise 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, and noosa brands.
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