JPMorgan Chase & Co. Reaffirms Neutral Rating for Sweetgreen (NYSE:SG)

JPMorgan Chase & Co. reissued their neutral rating on shares of Sweetgreen (NYSE:SG - Free Report) in a research note published on Tuesday, Marketbeat reports. The firm currently has a $25.00 price target on the stock, down from their previous price target of $32.00.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group lowered their target price on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Oppenheimer lowered their price target on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. UBS Group cut their target price on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday. Citigroup decreased their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, TD Securities reduced their target price on Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.36.

Sweetgreen Price Performance

Shares of NYSE:SG traded down $2.96 during trading on Tuesday, hitting $15.22. The company's stock had a trading volume of 3,052,187 shares, compared to its average volume of 3,875,410. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -19.51 and a beta of 2.31. The company has a 50-day moving average of $21.86 and a 200-day moving average of $29.65. Sweetgreen has a 12 month low of $15.08 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.21). The firm had revenue of $166.30 million during 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%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) EPS. As a group, research analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current year.

Insider Activity

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 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 value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares of the company's stock, valued at $42,485,356.20. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in Sweetgreen by 1,399.0% during the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after acquiring an additional 103,664 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Sweetgreen by 37.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company's stock valued at $23,789,000 after buying an additional 181,805 shares in the last quarter. Diversified Trust Co grew its holdings in Sweetgreen by 223.2% in the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company's stock worth $870,000 after purchasing an additional 18,733 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Sweetgreen by 18.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 170,172 shares of the company's stock worth $5,456,000 after acquiring an additional 26,731 shares in the last quarter. Finally, Moody National Bank Trust Division purchased a new position in shares of Sweetgreen in the 4th quarter valued at approximately $1,182,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.