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

TD Cowen reiterated their hold rating on shares of Sweetgreen (NYSE:SG - Free Report) in a report issued on Tuesday morning, Marketbeat reports. TD Cowen currently has a $19.00 price objective on the stock.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group cut their price target on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th. Piper Sandler reduced their price target on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. UBS Group cut their price objective on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley lowered their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $25.23.

Sweetgreen Stock Performance

SG stock traded up $0.40 during trading on Tuesday, reaching $14.80. 3,435,836 shares of the company were exchanged, compared to its average volume of 3,793,814. The stock's 50 day moving average price is $14.70 and its 200 day moving average price is $22.62. Sweetgreen has a 52-week low of $11.86 and a 52-week high of $45.12. The company has a market cap of $1.74 billion, a P/E ratio of -19.21 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting 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 business had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. During the same quarter in the previous year, the company earned ($0.23) EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Sweetgreen

Hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. raised its holdings in shares of Sweetgreen by 3.4% during 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 raised its stake in shares of Sweetgreen by 3.4% during the fourth quarter. FMR LLC now owns 10,103,969 shares of the company's stock valued at $323,933,000 after purchasing an additional 329,789 shares during the period. Vanguard Group Inc. raised its stake in shares of Sweetgreen by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock valued at $306,009,000 after purchasing an additional 351,240 shares during the period. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after purchasing an additional 1,330,094 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock valued at $176,850,000 after purchasing an additional 1,601,666 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

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.