Sweetgreen’s (SG) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Sweetgreen (NYSE:SG) in a report issued on Tuesday, MarketBeat.com reports. They currently have a $25.00 price objective on the stock, down from their previous price objective of $32.00.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Morgan Stanley set a $24.00 target price on shares of Sweetgreen in a research note on Monday, April 14th. TD Securities decreased their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Citigroup lowered their target price on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer lowered their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.36.

Sweetgreen Stock Up 0.9 %

SG stock opened at $18.06 on Tuesday. The company’s 50-day moving average price is $21.86 and its two-hundred day moving average price is $29.65. The firm has a market cap of $2.12 billion, a P/E ratio of -23.15 and a beta of 2.31. Sweetgreen has a 12 month low of $16.29 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.23) earnings per share. Equities analysts predict that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the transaction, the chief financial officer now owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 in the last 90 days. Company insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently modified their holdings of SG. Baillie Gifford & Co. boosted its holdings in shares of Sweetgreen by 3.4% during the 1st quarter. Baillie Gifford & Co. now owns 11,707,090 shares of the company’s stock valued at $292,911,000 after acquiring an additional 386,141 shares during the last quarter. FMR LLC raised its stake in Sweetgreen by 3.4% during the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock worth $323,933,000 after acquiring an additional 329,789 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after buying an additional 351,240 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after acquiring an additional 1,601,666 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Sweetgreen by 30.1% in the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares during the period. 95.75% of the stock is currently owned by institutional investors.

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.