Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $29.08.

SG has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. UBS Group cut their target price on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Barclays initiated coverage on shares of Sweetgreen in a research report on Friday, June 6th. They set an “equal weight” rating and a $16.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, Morgan Stanley cut their target price on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th.

Sweetgreen Price Performance

Shares of SG opened at $13.10 on Friday. Sweetgreen has a 1-year low of $12.37 and a 1-year high of $45.12. The company has a 50-day moving average of $16.89 and a 200 day moving average of $25.68. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -16.79 and a beta of 2.06.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. During the same quarter last year, the business posted ($0.23) EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In related news, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 95,516 shares in the company, valued at $2,273,280.80. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the sale, the chief executive officer now owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,014 shares of company stock valued at $736,283 in the last 90 days. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new position in Sweetgreen during the fourth quarter valued at $52,558,000. Invesco Ltd. lifted its position in Sweetgreen by 40.9% during the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after purchasing an additional 1,601,666 shares during the period. Wellington Management Group LLP lifted its position in Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company’s stock valued at $144,180,000 after purchasing an additional 1,330,094 shares during the period. Champlain Investment Partners LLC acquired a new position in Sweetgreen during the first quarter valued at $31,558,000. Finally, Durable Capital Partners LP lifted its position in Sweetgreen by 29.5% during the first quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock valued at $113,218,000 after purchasing an additional 1,030,176 shares during the period. 95.75% of the stock is currently 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.