UBS Group Cuts Sweetgreen (NYSE:SG) Price Target to $12.00

Sweetgreen (NYSE:SG) had its price target reduced by UBS Group from $13.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on SG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sweetgreen in a research report on Wednesday, October 8th. TD Cowen decreased their target price on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, August 8th. Piper Sandler cut their price target on shares of Sweetgreen from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 8th. Wells Fargo & Company cut their price target on shares of Sweetgreen from $19.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Finally, Barclays cut their price target on shares of Sweetgreen from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.96.

Sweetgreen Stock Up 0.5%

Shares of SG stock opened at $6.44 on Monday. The business has a 50 day moving average of $7.97 and a two-hundred day moving average of $11.75. Sweetgreen has a 52 week low of $6.19 and a 52 week high of $45.12. The company has a market cap of $761.27 million, a P/E ratio of -7.67 and a beta of 1.94.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The company had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. Analysts expect that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 11,530 shares of Sweetgreen stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the sale, the chief financial officer directly owned 322,891 shares in the company, valued at $2,967,368.29. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.78% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc bought a new stake in shares of Sweetgreen in the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC raised its holdings in shares of Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after buying an additional 1,055 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Sweetgreen by 312.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after buying an additional 2,127 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of Sweetgreen by 70.8% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after buying an additional 1,700 shares in the last quarter. Finally, Bogart Wealth LLC raised its holdings in shares of Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after buying an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.