Sovos Brands, Inc. (NASDAQ:SOVO – Get Rating) insider Katie Gvazdinskas sold 5,903 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $17.46, for a total transaction of $103,066.38. Following the completion of the transaction, the insider now directly owns 68,942 shares of the company’s stock, valued at $1,203,727.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Sovos Brands Stock Performance
Shares of NASDAQ SOVO opened at $18.42 on Friday. Sovos Brands, Inc. has a twelve month low of $12.50 and a twelve month high of $20.58. The business’s 50 day moving average price is $17.30 and its two-hundred day moving average price is $15.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.97 and a quick ratio of 2.23.
Sovos Brands (NASDAQ:SOVO – Get Rating) last posted its quarterly earnings results 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. Sovos Brands had a positive return on equity of 13.24% and a negative net margin of 5.39%. The business had revenue of $262.10 million for the quarter, compared to analysts’ expectations of $231.49 million. During the same quarter in the prior year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts predict that Sovos Brands, Inc. will post 0.65 EPS for the current year.
Analyst Upgrades and Downgrades
Institutional Trading of Sovos Brands
Hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC acquired a new stake in shares of Sovos Brands during the 3rd quarter worth about $341,000. SG Americas Securities LLC acquired a new stake in Sovos Brands during the 3rd quarter worth approximately $120,000. Diversified Trust Co acquired a new stake in Sovos Brands during the 4th quarter worth approximately $194,000. MetLife Investment Management LLC lifted its holdings in Sovos Brands by 29.8% during the 3rd quarter. MetLife Investment Management LLC now owns 21,953 shares of the company’s stock worth $313,000 after purchasing an additional 5,034 shares during the last quarter. Finally, Sandia Investment Management LP acquired a new stake in Sovos Brands during the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
Sovos Brands Company Profile
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Sovos Brands (SOVO)
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
- Hot Inflation, What It Means For The Summer Rally
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.
