Sovos Brands Inc. (NASDAQ: SOVO) is 22.20% higher on its value in year-to-date trading and has touched a low of $12.50 and a high of $20.58 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SOVO stock was last observed hovering at around $17.40 in the last trading session, with the day’s gains setting it 0.16% off its average median price target of $21.50 for the next 12 months. It is also 26.83% off the consensus price target high of $24.00 offered by 11 analysts, but current levels are 7.58% higher than the price target low of $19.00 for the same period.
Currently trading at $17.56, the stock is -1.05% and 3.66% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.55 million and changing 0.92% at the moment leaves the stock 18.87% off its SMA200. SOVO registered 34.05% gain for a year compared to 6-month gain of 23.84%. The firm has a 50-day simple moving average (SMA 50) of $2.42 and a 200-day simple moving average (SMA200) of $281.34.
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The stock witnessed a 4.52% loss in the last 1 month and extending the period to 3 months gives it a 30.85%, and is 0.34% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.84% over the week and 3.39% over the month.
Sovos Brands Inc. (SOVO) has around 690 employees, a market worth around $1.81B and $921.20M in sales. Fwd P/E is 23.26. Profit margin for the company is -5.40%. Distance from 52-week low is 40.48% and -14.67% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.70%).
Sovos Brands Inc. (SOVO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Sovos Brands Inc. (SOVO) is a “Buy”. 11 analysts offering their recommendations for the stock have an average rating of 1.80, where 1 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Sovos Brands Inc. is expected to release its quarterly report on 08/02/2023.The EPS is expected to grow by 5.00% this year.
Sovos Brands Inc. (SOVO) Top Institutional Holders
The shares outstanding are 101.19M, and float is at 90.75M with Short Float at 3.41%.
Sovos Brands Inc. (SOVO) Insider Activity
A total of 34 insider transactions have happened at Sovos Brands Inc. (SOVO) in the last six months, with sales accounting for 27 and purchases happening 7 times. The most recent transaction is an insider sale by ADVENT INTERNATIONAL CORP/MA,the company’s10% Owner. SEC filings show that ADVENT INTERNATIONAL CORP/MA sold 1,500,000 shares of the company’s common stock on May 19 at a price of $17.30 per share for a total of $25.95 million. Following the sale, the insider now owns 44.76 million shares.
Sovos Brands Inc. disclosed in a document filed with the SEC on May 19 that Mathur Neha (Director) sold a total of 1,500,000 shares of the company’s common stock. The trade occurred on May 19 and was made at $17.30 per share for $25.95 million. Following the transaction, the insider now directly holds 44.76 million shares of the SOVO stock.
Still, SEC filings show that on May 19, Case Jefferson M (Director) disposed off 1,500,000 shares at an average price of $17.30 for $25.95 million. The insider now directly holds 44,764,243 shares of Sovos Brands Inc. (SOVO).
Sovos Brands Inc. (SOVO): Who are the competitors?
The company’s main competitors (and peers) include PepsiCo Inc. (PEP) that is 14.71% higher over the past 12 months. General Mills Inc. (GIS) is 27.55% up on the 1-year trading charts.
