Sweetgreen (NYSE:SG – Get Free Report) had its target price upped by stock analysts at KeyCorp from $12.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp‘s target price would suggest a potential upside of 13.18% from the company’s current price.
Several other research analysts have also recently weighed in on SG. Wall Street Zen raised Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 16th. DA Davidson decreased their price objective on shares of Sweetgreen from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Monday, August 10th. TD Cowen increased their target price on Sweetgreen from $9.00 to $11.00 and gave the company a “hold” rating in a research note on Friday. Citigroup upped their target price on Sweetgreen from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, UBS Group upped their target price on shares of Sweetgreen from $6.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Hold” and a consensus price target of $9.01.
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Sweetgreen Price Performance
Shares of NYSE SG opened at $11.49 on Friday. The business has a 50-day moving average of $8.83 and a 200-day moving average of $7.28. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 114.66 and a beta of 2.11. Sweetgreen has a 1-year low of $4.49 and a 1-year high of $11.95.
Sweetgreen (NYSE:SG – Get Free Report) last announced its earnings results on Friday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%. The company had revenue of $176.02 million for the quarter, compared to analyst estimates of $170.07 million. During the same period in the prior year, the company posted ($0.31) EPS. Sweetgreen’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts expect that Sweetgreen will post -1.04 EPS for the current fiscal year.
Insider Transactions at Sweetgreen
In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $29,863.89. Following the transaction, the chief operating officer owned 207,076 shares in the company, valued at approximately $1,285,941.96. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a 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 company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $93,354.93. Following the completion of the sale, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at $1,307,136.69. The trade was a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.
Institutional Trading of Sweetgreen
A number of large investors have recently bought and sold shares of SG. Wellington Management Group LLP acquired a new stake in shares of Sweetgreen during the second quarter worth $4,557,000. Bank of New York Mellon Corp bought a new position in Sweetgreen during the 2nd quarter worth about $2,792,000. Granahan Investment Management LLC acquired a new stake in shares of Sweetgreen in the 1st quarter valued at about $1,472,000. Quantinno Capital Management LP raised its stake in shares of Sweetgreen by 495.3% in the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after purchasing an additional 161,209 shares during the period. Finally, Curated Wealth Partners LLC bought a new stake in shares of Sweetgreen in the third quarter valued at about $480,000. 95.75% of the stock is owned by institutional investors.
Sweetgreen Company Profile
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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