Sweetgreen's (SG) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Sweetgreen's stock has been given a "sell (D-)" rating by Weiss Ratings, which indicates concerns about its performance.
• The company's recent earnings report showed it missed expectations, with earnings per share at ($0.20), against a consensus estimate of ($0.12).
• Sweetgreen's stock has a current trading price of $7.78, significantly lower than its 52-week high of $45.12, reflecting a challenging market position.

Sweetgreen (NYSE:SG - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also commented on SG. Wells Fargo & Company reissued an "overweight" rating and set a $19.00 price target on shares of Sweetgreen in a research note on Tuesday, July 1st. Piper Sandler dropped their price target on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. TD Securities reissued a "hold" rating and set a $15.00 price target (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. JPMorgan Chase & Co. dropped their price target on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Finally, UBS Group dropped their price target on Sweetgreen from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.73.

Sweetgreen Price Performance

Shares of NYSE SG traded up $0.02 during mid-day trading on Wednesday, reaching $7.78. The company's stock had a trading volume of 5,516,755 shares, compared to its average volume of 5,067,277. The firm has a market capitalization of $919.69 million, a PE ratio of -9.26 and a beta of 1.97. The stock has a fifty day moving average of $9.19 and a two-hundred day moving average of $14.01. Sweetgreen has a 52 week low of $7.66 and a 52 week high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The business had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same period last year, the company earned ($0.13) EPS. The business's revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. Analysts anticipate that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. raised its holdings in shares of Sweetgreen by 3.4% in the first quarter. Baillie Gifford & Co. now owns 11,707,090 shares of the company's stock worth $292,911,000 after buying an additional 386,141 shares during the period. Wellington Management Group LLP raised its holdings in shares of Sweetgreen by 30.0% in the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after buying an additional 1,330,094 shares during the period. Durable Capital Partners LP raised its holdings in shares of Sweetgreen by 29.5% in the first quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company's stock worth $113,218,000 after buying an additional 1,030,176 shares during the period. Spyglass Capital Management LLC raised its holdings in shares of Sweetgreen by 15.2% in the second quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company's stock worth $58,029,000 after buying an additional 513,643 shares during the period. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Sweetgreen by 89.5% in the second quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company's stock worth $38,205,000 after buying an additional 1,212,708 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.