Sweetgreen, Inc. (NYSE:SG – Get Free Report)’s stock price fell 8.7% on Monday . The stock traded as low as $8.49 and last traded at $8.3450. Approximately 631,581 shares were traded during trading, a decline of 87% from the average session volume of 4,784,123 shares. The stock had previously closed at $9.14.
Wall Street Analyst Weigh In
Several analysts recently issued reports on SG shares. Citizens Jmp began coverage on Sweetgreen in a report on Monday, March 30th. They issued a “mkt underperform” rating and a $4.50 price target for the company. DA Davidson boosted their price objective on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and increased their target price for the company from $8.00 to $13.00 in a research note on Friday, May 22nd. Oppenheimer raised their target price on Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Finally, Wolfe Research assumed coverage on Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sweetgreen currently has a consensus rating of “Hold” and a consensus price target of $7.57.
Get Our Latest Stock Report on SG
Sweetgreen Stock Up 3.3%
Sweetgreen (NYSE:SG – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.94 million. During the same quarter last year, the business earned ($0.21) EPS. Sweetgreen’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Sweetgreen, Inc. will post -0.76 earnings per share for the current fiscal year.
Insider Buying and Selling at Sweetgreen
In related news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the transaction, the insider owned 11,900,255 shares of the company’s stock, valued at $67,712,450.95. This represents a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.19% of the company’s stock.
Institutional Trading of Sweetgreen
Several hedge funds and other institutional investors have recently bought and sold shares of SG. Citigroup Inc. raised its stake in Sweetgreen by 75.8% during the third quarter. Citigroup Inc. now owns 531,171 shares of the company’s stock worth $4,239,000 after acquiring an additional 228,961 shares during the period. Greenhouse Funds LLLP boosted its stake in Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after acquiring an additional 1,788,175 shares during the period. Quantbot Technologies LP acquired a new position in Sweetgreen in the third quarter valued at approximately $3,177,000. Divisadero Street Capital Management LP bought a new position in shares of Sweetgreen during the third quarter valued at approximately $2,037,000. Finally, Ibex Investors LLC grew its holdings in shares of Sweetgreen by 5,058.7% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after purchasing an additional 809,400 shares during the last quarter. 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.
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