Sweetgreen, Inc. (NYSE:SG) Receives $41.20 Average PT from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $41.20.

Several equities analysts recently commented on the company. TD Cowen reissued a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $49.00 in a research report on Friday, January 10th. Oppenheimer lowered their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company.

Sweetgreen Trading Up 0.8 %

NYSE SG opened at $32.91 on Friday. The business’s 50-day moving average price is $34.43 and its 200 day moving average price is $34.35. Sweetgreen has a twelve month low of $10.45 and a twelve month high of $45.12. The company has a market capitalization of $3.81 billion, a PE ratio of -42.19 and a beta of 2.37.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The company had revenue of $173.43 million during the quarter, compared to analyst estimates of $173.67 million. During the same quarter last year, the business earned ($0.22) EPS. Equities analysts predict that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling

In other Sweetgreen news, Director Bradley E. Singer sold 7,270 shares of Sweetgreen stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $39.70, for a total transaction of $288,619.00. Following the sale, the director now owns 181,782 shares of the company’s stock, valued at $7,216,745.40. The trade was a 3.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 608,877 shares of company stock worth $23,466,012 over the last ninety days. 21.52% of the stock is owned by insiders.

Institutional Trading of Sweetgreen

Several institutional investors have recently modified their holdings of SG. Wellington Management Group LLP boosted its holdings in shares of Sweetgreen by 7.5% in the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after buying an additional 236,874 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares in the last quarter. State Street Corp boosted its stake in Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after purchasing an additional 69,120 shares during the period. Geode Capital Management LLC grew its position in Sweetgreen by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after purchasing an additional 116,243 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Sweetgreen by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock valued at $44,613,000 after purchasing an additional 148,684 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.