Sweetgreen (NYSE:SG – Free Report) had its target price boosted by KeyCorp from $9.00 to $12.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.
Other research analysts have also issued research reports about the company. Wells Fargo & Company raised Sweetgreen from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $6.00 to $11.00 in a research report on Monday, September 28th. TD Cowen lifted their price objective on Sweetgreen from $6.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, October 21st. UBS Group raised Sweetgreen from a “neutral” rating to a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada upped their target price on Sweetgreen from $6.50 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings downgraded Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.35.
Read Our Latest Report on Sweetgreen
Sweetgreen Trading Up 0.3%
Shares of NYSE:SG opened at $9.85 on Friday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 98.55 and a beta of 2.16. The company has a 50-day moving average price of $8.02 and a 200-day moving average price of $7.65. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $10.77.
Sweetgreen (NYSE:SG – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share 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 analysts’ expectations of $194.50 million. Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%. 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 company posted ($0.20) earnings per share. As a group, research analysts forecast that Sweetgreen will post -1.04 EPS for the current fiscal year.
Insider Activity at Sweetgreen
In other news, COO Jason Miles Cochran sold 4,809 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 207,076 shares of the company’s stock, valued at approximately $1,285,941.96. This represents a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the transaction, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at $1,307,136.69. This represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 18.19% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in Sweetgreen by 175.2% in the third quarter. Sterling Capital Management LLC now owns 2,936 shares of the company’s stock worth $26,000 after purchasing an additional 1,869 shares during the period. Fifth Third Bancorp bought a new position in Sweetgreen in the first quarter worth $38,000. State of Alaska Department of Revenue bought a new position in Sweetgreen in the third quarter worth $68,000. Sequoia Financial Advisors LLC purchased a new position in Sweetgreen during the second quarter valued at $90,000. Finally, Versant Capital Management Inc lifted its position in Sweetgreen by 241.5% during the second quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock valued at $93,000 after buying an additional 7,438 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.
About Sweetgreen
Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.
Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.
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