Sweetgreen's (SG) "Hold" Rating Reaffirmed at TD Securities

Sweetgreen (NYSE:SG - Get Free Report)'s stock had its "hold" rating reissued by research analysts at TD Securities in a research report issued 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' target price would suggest a potential upside of 1.39% from the stock's previous close.

SG has been the topic of several other research reports. The Goldman Sachs Group cut 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. TD Cowen reissued a "hold" rating and set a $19.00 price target on shares of Sweetgreen in a research report on Tuesday. Piper Sandler reduced their price objective on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Oppenheimer lowered their target price 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. Finally, Barclays began coverage on shares of Sweetgreen in a research report on Friday, June 6th. They set an "equal weight" rating and a $16.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $25.23.

Sweetgreen Stock Performance

Shares of NYSE:SG traded up $0.40 during trading on Tuesday, hitting $14.80. The company's stock had a trading volume of 3,435,836 shares, compared to its average volume of 3,793,814. Sweetgreen has a fifty-two week low of $11.86 and a fifty-two week high of $45.12. The stock's 50-day moving average price is $14.70 and its two-hundred day moving average price is $22.62. The company has a market capitalization of $1.74 billion, a PE ratio of -19.21 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last released 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 net margin of 13.04% and a negative return on equity of 19.72%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. The company's revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Clifford Burrows bought 19,200 shares of Sweetgreen stock in a transaction on Friday, May 23rd. The stock was purchased at an average cost of $13.11 per share, with a total value of $251,712.00. Following the purchase, the director directly owned 19,200 shares of the company's stock, valued at approximately $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mitch Reback sold 10,088 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the sale, the chief financial officer owned 334,421 shares in the company, valued at $5,093,231.83. The trade was a 2.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

Large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its stake in Sweetgreen by 55.3% during the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after buying an additional 4,474 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sweetgreen by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock valued at $936,000 after acquiring an additional 1,278 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Sweetgreen by 54.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after acquiring an additional 5,783 shares during the period. LPL Financial LLC raised its holdings in Sweetgreen by 400.1% during the fourth quarter. LPL Financial LLC now owns 59,592 shares of the company's stock worth $1,911,000 after purchasing an additional 47,676 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Sweetgreen by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company's stock worth $27,235,000 after purchasing an additional 19,263 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.