Sweetgreen (NYSE:SG) Upgraded to Equal Weight at Morgan Stanley

Sweetgreen (NYSE:SG) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $25.00 price objective on the stock. Morgan Stanley’s price target indicates a potential downside of 0.87% from the company’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. TD Cowen boosted their price objective on Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, June 13th. The Goldman Sachs Group assumed coverage on Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 price objective on the stock. Citigroup boosted their price objective on Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Finally, William Blair reissued an “outperform” rating on shares of Sweetgreen in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.20.

Sweetgreen Trading Down 5.9 %

Shares of SG opened at $25.22 on Tuesday. The company has a market capitalization of $2.86 billion, a PE ratio of -27.12 and a beta of 2.31. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $36.72. The stock’s 50-day moving average price is $29.99 and its two-hundred day moving average price is $21.56.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $157.85 million for the quarter, compared to analyst estimates of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.29) earnings per share. Equities research analysts predict that Sweetgreen will post -0.73 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 200,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total value of $6,260,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $65,730,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Sweetgreen news, Director Bradley E. Singer sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $32.30, for a total transaction of $1,938,000.00. Following the completion of the sale, the director now directly owns 182,567 shares of the company’s stock, valued at approximately $5,896,914.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Neman sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total value of $6,260,000.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at $65,730,000. The disclosure for this sale can be found here. Insiders sold 440,692 shares of company stock valued at $13,738,038 in the last three months. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in Sweetgreen during the 4th quarter worth approximately $104,000. Clear Harbor Asset Management LLC bought a new stake in Sweetgreen during the 4th quarter worth approximately $113,000. Triumph Capital Management bought a new stake in Sweetgreen during the 4th quarter worth approximately $126,000. Handelsbanken Fonder AB bought a new stake in Sweetgreen during the 4th quarter worth approximately $137,000. Finally, Graham Capital Wealth Management LLC purchased a new position in shares of Sweetgreen in the 4th quarter worth approximately $139,000. 95.75% of the stock is owned by institutional investors.

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.