Sweetgreen, Inc. (NYSE:SG) Given Average Rating of “Hold” by Analysts

Sweetgreen, Inc. (NYSE:SG) has been assigned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.10.

SG has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Sweetgreen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Royal Bank Of Canada dropped their price target on shares of Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. KeyCorp restated a “sector weight” rating on shares of Sweetgreen in a research report on Monday, August 10th. Oppenheimer dropped their target price on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, TD Cowen decreased their target price on shares of Sweetgreen from $8.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, August 7th.

Sweetgreen Trading Down 0.4%

Shares of SG opened at $6.94 on Monday. The business’s fifty day simple moving average is $7.02 and its two-hundred day simple moving average is $6.83. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $10.63. The company has a market cap of $826.14 million, a price-to-earnings ratio of 69.41 and a beta of 2.19.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The business had revenue of $192.66 million during 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) EPS. As a group, research analysts forecast that Sweetgreen will post -0.98 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In related news, CFO Jamie Mcconnell sold 15,033 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 transaction of $93,354.93. Following the completion of the sale, the chief financial officer owned 210,489 shares in the company, valued at approximately $1,307,136.69. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares of the company’s stock, valued at $1,285,941.96. The trade was a 2.27% 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. Insiders own 18.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SG. Larson Financial Group LLC increased its stake in shares of Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares in the last quarter. Fifth Third Bancorp bought a new position in Sweetgreen in the 1st quarter worth $38,000. CWM LLC lifted its position in Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after purchasing an additional 5,839 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC bought a new stake in Sweetgreen during the first quarter valued at about $56,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

About Sweetgreen

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.