Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Hold” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus rating of “Hold” by the nineteen research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.10.

SG has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. TD Cowen reduced their price objective on shares of Sweetgreen from $8.00 to $5.00 and set a “hold” rating for the company in a report on Friday, August 7th. Citigroup decreased their target price on shares of Sweetgreen from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. UBS Group raised shares of Sweetgreen from a “neutral” rating to a “buy” rating in a research note on Friday, August 7th. Finally, Oppenheimer dropped their price target on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Friday, August 7th.

Sweetgreen Stock Up 0.1%

Sweetgreen stock opened at $6.85 on Monday. The business has a 50 day moving average price of $6.83 and a two-hundred day moving average price of $6.89. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $10.63. The stock has a market cap of $815.42 million, a price-to-earnings ratio of 68.51 and a beta of 2.20.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The firm had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. On average, analysts expect that Sweetgreen will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of Sweetgreen stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $93,354.93. Following the transaction, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at approximately $1,307,136.69. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 18.19% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its stake in shares of Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after buying an additional 161,209 shares in the last quarter. Ibex Investors LLC lifted its position in Sweetgreen by 5,058.7% during the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after buying an additional 809,400 shares in the last quarter. Granahan Investment Management LLC acquired a new position in Sweetgreen during the 1st quarter worth about $1,472,000. MYDA Advisors LLC bought a new stake in Sweetgreen during the 4th quarter worth about $676,000. Finally, Bank of New York Mellon Corp bought a new stake in Sweetgreen during the 2nd quarter worth about $2,792,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.