Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Hold” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have earned an average rating of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.6786.

SG has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a report on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $8.00 target price on shares of Sweetgreen in a research note on Tuesday, December 9th. UBS Group decreased their price target on shares of Sweetgreen from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company downgraded shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $10.00 to $7.00 in a research report on Wednesday, December 17th. Finally, Barclays decreased their target price on Sweetgreen from $8.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman purchased 179,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $5.56 per share, for a total transaction of $999,688.00. Following the completion of the purchase, the chief executive officer owned 179,800 shares of the company’s stock, valued at approximately $999,688. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Jammet purchased 18,115 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider owned 18,115 shares of the company’s stock, valued at $99,813.65. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Sweetgreen by 1.4% during the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock worth $76,558,000 after buying an additional 129,572 shares in the last quarter. Durable Capital Partners LP grew its holdings in shares of Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock worth $113,218,000 after purchasing an additional 1,030,176 shares in the last quarter. Spyglass Capital Management LLC increased its position in shares of Sweetgreen by 4.0% in the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock worth $32,371,000 after purchasing an additional 156,757 shares during the period. Greenhouse Funds LLLP raised its stake in Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after purchasing an additional 1,788,175 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Sweetgreen by 1,428.8% during the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after purchasing an additional 3,667,306 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

Sweetgreen stock opened at $6.53 on Wednesday. The stock has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $9.22. The stock has a market capitalization of $772.60 million, a P/E ratio of -6.73 and a beta of 1.93. Sweetgreen has a 52 week low of $5.14 and a 52 week high of $35.95.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The business had revenue of $172.39 million during the quarter, compared to analyst estimates of $179.29 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. Research analysts forecast that Sweetgreen will post -0.74 earnings per share for the current year.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.