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.
Sovos Brands stock last closed at $22.64, down 0.13% from the previous day, and has increased 63.82% in one year. It has overperformed other stocks in the Packaged Foods industry by 0.67 percentage points. Sovos Brands stock is currently +77.71% from its 52-week low of $12.74, and -0.4% from its 52-week high of $22.73.
As of Sep 25, 2023, there are 101.32M SOVO shares outstanding. The market capitalization of SOVO is $2.29B. In the past 24 hours, 930,493 SOVO shares were traded.
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Once you have identified the best place to buy Sovos Brands stock, it's very important to analyze their stock prior to buying, so you actually wrap your head around the risk and opportunity.
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You can see all of the due diligence checks on SOVO's stock page.
You can use many financial metrics, analyses, models, and charts to gauge SOVO's fair value.
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Out of 8 Equities analysts who give forecasts on SOVO, the consensus analyst rating on Sovos Brands is a Buy
It's important to keep in mind that analyst forecasts are not recommendations, nor are they financial advice.
Michael Lavery, a top 4% analyst from Piper Sandler downgrades SOVO to a hold rating and raises their SOVO price target from $20.00 to $23.00, on Aug 9, 2023.
Piper Sandler's Michael Lavery downgraded their rating on Sovos Brands (NASDAQ: SOVO) from Strong Buy to Hold on 2023/08/09. The analyst also raised their price target by 15% from $20 to $23.
Antitrust approval is not guaranteed, the analyst noted, "but looks likely to us."
For Q2 2023, Sovos Brands reported:
Because of the pending acquisition by Campbell Soup Company, management did not provide financial guidance in its press release or earnings call.
President and CEO Todd Lachman commented: “We are pleased to report another quarter of sector-leading, volume-led 16% organic net sales growth and 37% adjusted EBITDA growth
“Rao’s broad-based momentum drove our growth in the quarter, benefiting most notably from 31% consumption growth in sauce that was driven by continued household penetration gains and distribution growth.”
Jim Salera, a bottom 30% analyst from Stephens & Co. downgrades SOVO to a hold rating and announces their SOVO price target of $23.00, on Aug 8, 2023.
Matthew Smith, a top 25% analyst from Stifel Nicolaus downgrades SOVO to a hold rating and raises their SOVO price target from $21.00 to $23.00, on Aug 8, 2023.
Ken Goldman, a top 7% analyst from JP Morgan downgrades SOVO to a hold rating and raises their SOVO price target from $21.00 to $23.00, on Aug 8, 2023.
Sarang Vora, a bottom 15% analyst from Telsey Advisory Group downgrades SOVO to a hold rating and raises their SOVO price target from $22.00 to $23.00, on Aug 8, 2023.
You can dig deeper into what analysts are projecting on the Sovos Brands stock forecast page.
Last year, SOVO revenue was $941.43M. During the past 2 year, SOVO's revenue has increased by 20.36% per year. This was faster than the Packaged Foods industry average of 7.62%.
Dig into SOVO's earnings and revenue performance here.
In the last 12 months, executives and large shareholders at SOVO have sold more shares than they have bought.
Todd R. Lachman, PRESIDENT AND CEO of SOVO, was the latest SOVO insider to sell. They sold $112,625.00 worth of SOVO shares on Sep 11, 2023.
Get more info about who owns SOVO stock here.
No, Sovos Brands doesn't provide an income stream by paying out dividends.
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