Sweetgreen (NYSE:SG) Now Covered by Barclays

Research analysts at Barclays started coverage on shares of Sweetgreen (NYSE:SG - Get Free Report) in a report released on Friday, Marketbeat reports. The brokerage set an "equal weight" rating and a $16.00 price target on the stock. Barclays's price target would indicate a potential upside of 14.29% from the company's current price.

A number of other research firms have also recently commented on SG. Citigroup decreased their price target on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Morgan Stanley decreased their price target on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. UBS Group decreased their price target on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Sweetgreen has an average rating of "Moderate Buy" and a consensus price target of $29.08.

Sweetgreen Trading Down 0.4%

Sweetgreen stock traded down $0.05 during mid-day trading on Friday, hitting $14.00. The company's stock had a trading volume of 3,560,655 shares, compared to its average volume of 3,572,224. The firm has a market capitalization of $1.64 billion, a PE ratio of -17.95 and a beta of 2.06. Sweetgreen has a 1 year low of $12.37 and a 1 year high of $45.12. The stock's fifty day moving average is $17.46 and its two-hundred day moving average is $26.05.

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

Insider Activity at Sweetgreen

In other news, Director Clifford Burrows acquired 19,200 shares of the company's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $13.11 per share, with a total value of $251,712.00. Following the completion of the acquisition, the director now owns 19,200 shares in the company, valued at $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch Reback sold 8,109 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.84, for a total value of $193,318.56. Following the transaction, the chief financial officer now directly owns 350,023 shares in the company, valued at approximately $8,344,548.32. The trade was a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,014 shares of company stock valued at $736,283 over the last quarter. 21.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in shares of Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after purchasing an additional 473 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Sweetgreen by 45.7% during the fourth 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. Hillsdale Investment Management Inc. grew its holdings in shares of Sweetgreen by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock worth $1,608,000 after buying an additional 600 shares during the last quarter. Oberweis Asset Management Inc. grew its holdings in shares of Sweetgreen by 0.6% during the fourth quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after buying an additional 610 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Sweetgreen by 2.1% during the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock worth $947,000 after buying an additional 613 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

About Sweetgreen

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.