Sovos Brands, Inc. (NASDAQ:SOVO – Get Rating) Director Robert L. Graves sold 25,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $14.00, for a total value of $350,000.00. Following the completion of the sale, the director now directly owns 3,805,986 shares of the company’s stock, valued at approximately $53,283,804. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Sovos Brands Stock Performance
Shares of SOVO stock opened at $14.65 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.95 and a current ratio of 2.71. The business has a fifty day moving average of $13.63 and a 200 day moving average of $14.00. Sovos Brands, Inc. has a 1 year low of $10.99 and a 1 year high of $16.83.
Sovos Brands (NASDAQ:SOVO – Get Rating) last released its quarterly earnings data on Wednesday, March 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $262.10 million during the quarter, compared to analyst estimates of $231.49 million. Sovos Brands had a positive return on equity of 12.18% and a negative net margin of 6.09%. The company’s revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Equities research analysts anticipate that Sovos Brands, Inc. will post 0.6 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sovos Brands
Wall Street Analysts Forecast Growth
SOVO has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Sovos Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, March 9th. Telsey Advisory Group restated an “outperform” rating and issued a $17.00 target price on shares of Sovos Brands in a research note on Tuesday, March 7th. Finally, UBS Group lowered Sovos Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $16.00 in a research note on Thursday, December 8th.
About Sovos Brands
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.
- Get a free copy of the StockNews.com research report on Sovos Brands (SOVO)
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