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

Sweetgreen (NYSE:SG - Get Free Report)'s stock had its "hold" rating reiterated by analysts at TD Securities in a report released on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock, down from their previous target price of $25.00. TD Securities' price target indicates a potential upside of 4.09% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen reaffirmed a "hold" rating and set a $19.00 price target on shares of Sweetgreen in a research note on Tuesday. The Goldman Sachs Group reduced their target price on shares of 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 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, May 9th. Wells Fargo & Company assumed coverage on shares of Sweetgreen in a report on Monday, June 16th. They set an "overweight" rating and a $19.00 price target on the stock. 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 research note on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Sweetgreen presently has an average rating of "Hold" and a consensus price target of $25.23.

Sweetgreen Stock Performance

Shares of NYSE SG traded down $0.14 during mid-day trading on Tuesday, reaching $14.41. The company had a trading volume of 5,741,367 shares, compared to its average volume of 3,785,233. Sweetgreen has a 12-month low of $11.86 and a 12-month high of $45.12. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -18.71 and a beta of 2.06. The stock has a fifty day moving average of $14.96 and a two-hundred day moving average of $22.97.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. The business had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. During the same period in the previous year, the company posted ($0.23) EPS. Sweetgreen's revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer directly owned 334,421 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clifford Burrows acquired 19,200 shares of the stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the purchase, the director owned 19,200 shares of the company's stock, valued at $251,712. The trade was a ∞ increase in their position. 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

A number of institutional investors and hedge funds have recently bought and sold shares of SG. Baillie Gifford & Co. grew 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 worth $292,911,000 after purchasing an additional 386,141 shares in the last quarter. FMR LLC lifted its position in Sweetgreen by 3.4% in the fourth quarter. FMR LLC now owns 10,103,969 shares of the company's stock worth $323,933,000 after purchasing an additional 329,789 shares during the period. Vanguard Group Inc. lifted its position in Sweetgreen by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company's stock worth $306,009,000 after purchasing an additional 351,240 shares during the period. Wellington Management Group LLP boosted its stake in 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 buying an additional 1,330,094 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock valued at $176,850,000 after buying an additional 1,601,666 shares during the period. 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.