TD Cowen Boosts Sweetgreen (NYSE:SG) Price Target to $31.00

Sweetgreen (NYSE:SG) had its price target raised by TD Cowen from $26.00 to $31.00 in a research report released on Thursday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley boosted their target price on shares of Sweetgreen from $16.00 to $17.00 and gave the company an underweight rating in a research note on Friday, May 10th. JPMorgan Chase & Co. boosted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company an overweight rating in a research note on Monday, June 3rd. Oppenheimer boosted their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an outperform rating in a research note on Monday, April 1st. The Goldman Sachs Group began coverage on shares of Sweetgreen in a research note on Thursday. They set a buy rating and a $39.00 target price for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Sweetgreen from $35.00 to $45.00 and gave the company an outperform rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $29.67.

Sweetgreen Stock Down 6.4 %

Shares of NYSE SG opened at $31.54 on Thursday. Sweetgreen has a twelve month low of $8.64 and a twelve month high of $36.72. The firm has a market cap of $3.57 billion, a P/E ratio of -33.91 and a beta of 2.34. The company has a 50 day moving average of $27.42 and a 200 day moving average of $18.81.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $157.85 million during the quarter, compared to analysts’ expectations of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. Sweetgreen’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. As a group, equities analysts expect that Sweetgreen will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 150,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $64,050,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Sweetgreen news, CFO Mitch Reback sold 8,410 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $263,653.50. Following the completion of the transaction, the chief financial officer now owns 397,174 shares of the company’s stock, valued at approximately $12,451,404.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $64,050,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,692 shares of company stock valued at $13,738,038. Company insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC bought a new position in shares of Sweetgreen during the 1st quarter valued at about $223,000. Quest Partners LLC bought a new position in shares of Sweetgreen during the 4th quarter valued at about $104,000. Clear Harbor Asset Management LLC bought a new position in shares of Sweetgreen during the 4th quarter valued at about $113,000. Entropy Technologies LP bought a new position in shares of Sweetgreen during the 1st quarter valued at about $279,000. Finally, Triumph Capital Management bought a new position in shares of Sweetgreen during the 4th quarter valued at about $126,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Company Profile

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.