Sweetgreen (NYSE:SG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sweetgreen (NYSE:SG) from a strong sell rating to a sell rating in a report released on Sunday morning.

SG has been the topic of a number of other research reports. KeyCorp reissued a “sector weight” rating on shares of Sweetgreen in a research note on Monday, August 10th. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $13.00 in a report on Friday, May 22nd. UBS Group raised Sweetgreen from a “neutral” rating to a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada lowered their target price on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, BNP Paribas Exane boosted their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, twelve have given 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 a consensus target price of $7.10.

Sweetgreen Price Performance

NYSE SG opened at $5.84 on Friday. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $10.63. The firm has a market capitalization of $695.20 million, a PE ratio of 58.41 and a beta of 2.20. The company’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $6.79.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The firm had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.Sweetgreen’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. Sell-side analysts anticipate that Sweetgreen will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Sweetgreen

In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $93,354.93. Following the sale, the chief financial officer owned 210,489 shares of the company’s stock, valued at $1,307,136.69. This trade 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 Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the stock. Woodson Capital Management LP boosted its position in shares of Sweetgreen by 152.6% in the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after purchasing an additional 3,625,000 shares during the period. Marshall Wace LLP raised its holdings in Sweetgreen by 1,428.8% during the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after buying an additional 3,667,306 shares during the period. Federated Hermes Inc. raised its holdings in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after buying an additional 2,080,628 shares during the period. Geode Capital Management LLC lifted its stake in Sweetgreen by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock valued at $16,589,000 after buying an additional 16,281 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock valued at $15,520,000 after buying an additional 603,029 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.