What is KeyCorp’s Estimate for Sweetgreen FY2024 Earnings?

Sweetgreen, Inc. (NYSE:SG) – Investment analysts at KeyCorp issued their FY2024 earnings per share estimates for Sweetgreen in a report issued on Tuesday, December 10th. KeyCorp analyst E. Gonzalez forecasts that the company will earn ($0.79) per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sweetgreen’s current full-year earnings is ($0.73) per share. KeyCorp also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) 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.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America lifted their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Oppenheimer upped their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Price Performance

SG stock opened at $34.46 on Friday. The company has a 50 day moving average price of $38.37 and a 200 day moving average price of $33.39. Sweetgreen has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The stock has a market capitalization of $3.99 billion, a PE ratio of -44.18 and a beta of 2.32.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 72,000 shares of Sweetgreen stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the completion of the sale, the chief financial officer now owns 43,901 shares of the company’s stock, valued at approximately $1,658,140.77. This trade represents a 62.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Wouleta Ayele sold 4,347 shares of Sweetgreen stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the completion of the sale, the chief technology officer now owns 140,302 shares of the company’s stock, valued at approximately $4,777,283.10. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 470,639 shares of company stock valued at $18,379,124. 21.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SG. Baillie Gifford & Co. grew its holdings in Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after acquiring an additional 721,740 shares during the period. Wellington Management Group LLP increased its position in shares of Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after acquiring an additional 236,874 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares during the last quarter. Lord Abbett & CO. LLC raised its position in 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 buying an additional 272,340 shares during the last quarter. Finally, State Street Corp grew its position 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 in the last quarter. 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.