Sweetgreen (NYSE:SG) Now Covered by Analysts at KeyCorp

KeyCorp initiated coverage on shares of Sweetgreen (NYSE:SG) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a sector weight rating on the stock. KeyCorp also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.79) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.59) EPS, Q1 2026 earnings at ($0.14) EPS, Q2 2026 earnings at $0.03 EPS, Q3 2026 earnings at ($0.07) EPS and FY2026 earnings at ($0.33) EPS.

Several other research analysts also recently issued reports on SG. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Bank of America upped their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Oppenheimer increased their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Price Performance

SG opened at $34.47 on Wednesday. Sweetgreen has a 1-year low of $9.66 and a 1-year high of $45.12. The stock has a market cap of $3.99 billion, a P/E ratio of -44.19 and a beta of 2.32. The stock’s 50 day simple moving average is $38.37 and its 200 day simple moving average is $33.38.

Insider Buying and Selling

In other Sweetgreen news, insider Nathaniel Ru sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $50,532.63. Following the completion of the sale, the insider now owns 1,952,129 shares in the company, valued at $78,104,681.29. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $182,916.60. Following the transaction, the insider now owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 470,639 shares of company stock valued at $18,379,124. Company insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after purchasing an additional 272,340 shares during the last quarter. Franklin Resources Inc. lifted its stake in Sweetgreen by 1,399.0% in the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock valued at $4,365,000 after buying an additional 103,664 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Sweetgreen by 848.2% during the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after acquiring an additional 241,652 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Sweetgreen by 0.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 311,630 shares of the company’s stock worth $11,048,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Sweetgreen by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after buying an additional 116,243 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.