Sovos Brands, Inc. (NASDAQ:SOVO – Get Rating) Director Robert L. Graves sold 75,000 shares of Sovos Brands stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $14.31, for a total transaction of $1,073,250.00. Following the transaction, the director now directly owns 3,706,292 shares of the company’s stock, valued at $53,037,038.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Sovos Brands Trading Up 1.1 %
SOVO opened at $14.81 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.95 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $1.48 billion, a PE ratio of -27.94, a PEG ratio of 2.41 and a beta of -0.04. Sovos Brands, Inc. has a 1-year low of $11.88 and a 1-year high of $16.83. The firm has a 50-day moving average price of $13.65 and a two-hundred day moving average price of $13.99.
Sovos Brands (NASDAQ:SOVO – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $262.10 million during the quarter, compared to analysts’ expectations of $231.49 million. Sovos Brands had a negative net margin of 6.09% and a positive return on equity of 12.18%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, equities analysts anticipate that Sovos Brands, Inc. will post 0.6 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sovos Brands
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on SOVO shares. Telsey Advisory Group reissued an “outperform” rating and set a $17.00 price target on shares of Sovos Brands in a report on Tuesday, March 7th. UBS Group cut shares of Sovos Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $16.00 in a research report on Thursday, December 8th. Finally, Piper Sandler raised their price objective on shares of Sovos Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, March 9th.
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)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Receive News & Ratings for Sovos Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sovos Brands and related companies with MarketBeat.com's FREE daily email newsletter.