TD Cowen Reaffirms Hold Rating for Sweetgreen (NYSE:SG)

TD Cowen reaffirmed their hold rating on shares of Sweetgreen (NYSE:SG - Free Report) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have a $19.00 price objective on the stock.

Several other equities research analysts also recently issued reports on SG. Piper Sandler dropped their price objective on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. UBS Group dropped their price target on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their price target on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. The Goldman Sachs Group decreased their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. Finally, Oppenheimer cut their target price on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Sweetgreen has a consensus rating of "Hold" and a consensus price target of $25.23.

Sweetgreen Price Performance

SG traded down $0.14 during trading hours on Tuesday, reaching $14.41. 5,741,367 shares of the stock traded hands, compared to its average volume of 3,785,233. Sweetgreen has a fifty-two week low of $11.86 and a fifty-two week high of $45.12. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -18.71 and a beta of 2.06. The firm's fifty day simple moving average is $14.96 and its two-hundred day simple moving average is $22.97.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same period last year, the firm earned ($0.23) earnings per share. The company's revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Sweetgreen will post -0.74 earnings per share for the current year.

Insider Transactions at Sweetgreen

In related news, Director Clifford Burrows acquired 19,200 shares of Sweetgreen stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the transaction, the director directly owned 19,200 shares of the company's stock, valued at $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.23, for a total value of $153,640.24. Following the transaction, the chief financial officer owned 334,421 shares of the company's stock, valued at approximately $5,093,231.83. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC boosted its stake in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC grew its position in Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after purchasing an additional 494 shares during the last quarter. Spire Wealth Management increased its stake in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after purchasing an additional 635 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen in the fourth quarter valued at approximately $53,000. 95.75% of the stock is currently 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.