Sweetgreen, Inc. (NYSE:SG) Receives $31.73 Average PT from Analysts

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of analysts have issued reports on SG shares. Morgan Stanley reduced their price target on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Citigroup dropped their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Oppenheimer dropped their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 4,000 shares of Sweetgreen stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total transaction of $84,280.00. Following the completion of the transaction, the chief financial officer now directly owns 344,509 shares of the company's stock, valued at approximately $7,258,804.63. The trade was a 1.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the sale, the chief executive officer now directly owns 1,810,263 shares of the company's stock, valued at approximately $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,852 shares of company stock valued at $871,417. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its position in Sweetgreen by 3.4% in the 1st quarter. Baillie Gifford & Co. now owns 11,707,090 shares of the company's stock valued at $292,911,000 after buying an additional 386,141 shares during the period. FMR LLC boosted its position in Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company's stock valued at $323,933,000 after buying an additional 329,789 shares during the period. Vanguard Group Inc. boosted its position in Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock valued at $306,009,000 after buying an additional 351,240 shares during the period. Wellington Management Group LLP boosted its position in Sweetgreen by 30.0% in the 1st quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock valued at $144,180,000 after buying an additional 1,330,094 shares during the period. Finally, Invesco Ltd. boosted its position in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock valued at $176,850,000 after buying an additional 1,601,666 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Down 1.5%

NYSE SG traded down $0.23 on Tuesday, reaching $15.00. The company had a trading volume of 4,571,472 shares, compared to its average volume of 3,452,264. The stock has a market capitalization of $1.76 billion, a PE ratio of -19.23 and a beta of 2.31. The firm's 50 day moving average price is $20.89 and its 200 day moving average price is $28.62. Sweetgreen has a 12 month low of $14.61 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.21). The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. Sweetgreen's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. On average, research analysts expect that Sweetgreen will post -0.74 EPS for the current year.

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.