Sweetgreen, Inc. (NYSE:SG) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts give Sweetgreen a consensus rating of Hold from 19 analysts (3 sell / 13 hold / 3 buy) with an average 12‑month price target of $7.84.
• Major shareholder Goldman Sachs bought 594,553 shares at $5.69 (a 5.26% increase in its position) and co‑founder Nicolas Jammet also purchased shares, leaving insiders with about 19.78% ownership.
• Sweetgreen recently missed estimates—reporting ($0.42) EPS vs. ($0.31) expected and $155.2M revenue vs. $159.6M expected—revenue was down 3.5% YoY and analysts forecast roughly -0.75 EPS for the year.

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have been given a consensus rating of "Hold" by the nineteen analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.84.

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Sweetgreen from $9.00 to $7.00 and set a "neutral" rating for the company in a research note on Friday, March 27th. The Goldman Sachs Group raised their target price on shares of Sweetgreen from $5.00 to $5.60 and gave the company a "sell" rating in a research note on Wednesday, January 28th. Wolfe Research started coverage on shares of Sweetgreen in a research note on Monday, March 9th. They set a "peer perform" rating for the company. Royal Bank Of Canada lowered their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Finally, Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a research note on Wednesday, January 7th.

Insider Buying and Selling at Sweetgreen

In related news, major shareholder Goldman Sachs Group Inc acquired 594,553 shares of the stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the completion of the purchase, the insider owned 11,900,255 shares of the company's stock, valued at approximately $67,712,450.95. This represents a 5.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Jammet acquired 4,428 shares of the stock in a transaction dated Thursday, March 5th. The shares were bought at an average price of $5.71 per share, with a total value of $25,283.88. Following the completion of the purchase, the insider directly owned 22,543 shares of the company's stock, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 19.78% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently made changes to their positions in the stock. RPG Investment Advisory LLC lifted its stake in shares of Sweetgreen by 33.2% during the third quarter. RPG Investment Advisory LLC now owns 616,191 shares of the company's stock worth $4,916,000 after buying an additional 153,525 shares during the period. Citigroup Inc. raised its holdings in shares of Sweetgreen by 75.8% during the third quarter. Citigroup Inc. now owns 531,171 shares of the company's stock worth $4,239,000 after purchasing an additional 228,961 shares during the last quarter. Greenhouse Funds LLLP raised its holdings in shares of Sweetgreen by 82.8% during the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company's stock worth $31,496,000 after purchasing an additional 1,788,175 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Sweetgreen during the third quarter worth $4,527,000. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Sweetgreen during the third quarter worth $2,037,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Down 5.8%

Shares of SG opened at $6.72 on Tuesday. The company has a market cap of $795.95 million, a price-to-earnings ratio of -5.90 and a beta of 1.90. Sweetgreen has a twelve month low of $4.49 and a twelve month high of $21.04. The company has a 50 day moving average of $5.76 and a two-hundred day moving average of $6.38.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The firm had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. Sweetgreen's revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) earnings per share. On average, sell-side analysts expect that Sweetgreen will post -0.75 EPS for the current year.

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.

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