Sweetgreen (NYSE:SG) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

Sweetgreen (NYSE:SG - Get Free Report) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $25.00 to $20.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 30.16% from the company's previous close.

Several other brokerages have also commented on SG. Piper Sandler dropped their price target on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday. Royal Bank of Canada restated an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a research note on Friday. UBS Group cut their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Oppenheimer reduced their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.73.

Sweetgreen Stock Up 0.9%

SG stock traded up $0.14 during midday trading on Monday, reaching $15.37. The company had a trading volume of 6,415,401 shares, compared to its average volume of 3,422,746. The firm has a market capitalization of $1.80 billion, a PE ratio of -19.74 and a beta of 2.31. The stock has a 50 day moving average price of $21.74 and a 200 day moving average price of $29.40. Sweetgreen has a fifty-two week low of $14.61 and a fifty-two week high of $45.12.

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

Insider Buying and Selling at Sweetgreen

In related news, CEO Jonathan Neman sold 5,717 shares of Sweetgreen stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. The trade was a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nathaniel Ru sold 2,123 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. This represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently bought and sold shares of the business. Cox Capital Mgt LLC increased its holdings in shares of Sweetgreen by 76.0% in the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock valued at $1,728,000 after purchasing an additional 23,278 shares during the period. Moody National Bank Trust Division acquired a new position in Sweetgreen in the 4th quarter valued at approximately $1,182,000. Envestnet Asset Management Inc. lifted its position in Sweetgreen by 54.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock worth $523,000 after buying an additional 5,783 shares in the last quarter. Franklin Resources Inc. lifted its position in Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after buying an additional 103,664 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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