Brokerages Set Sweetgreen, Inc. (NYSE:SG) PT at $7.98

Sweetgreen, Inc. (NYSE:SG) has received an average recommendation of “Hold” from the nineteen analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.0375.

Several research analysts have commented on SG shares. UBS Group increased their price objective on shares of Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. BNP Paribas Exane boosted their price objective on shares of Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th. TD Cowen lifted their price target on shares of Sweetgreen from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Wolfe Research assumed coverage on Sweetgreen in a research note on Monday, March 9th. They issued a “peer perform” rating on the stock.

Insider Activity

In related news, insider Nicolas Jammet acquired 4,428 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average price of $5.71 per share, with a total value of $25,283.88. Following the completion of the transaction, the insider directly owned 22,543 shares in the company, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were purchased at an average cost of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the transaction, the insider owned 11,900,255 shares of the company’s stock, valued at approximately $67,712,450.95. The trade was a 5.26% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

Institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its holdings in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after acquiring an additional 2,349 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after purchasing an additional 3,484 shares during the last quarter. Fifth Third Bancorp acquired a new position in Sweetgreen during the 1st quarter valued at approximately $38,000. CWM LLC raised its holdings in shares of Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after buying an additional 4,984 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 2.8%

Shares of NYSE SG opened at $9.93 on Friday. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $16.70. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 82.72 and a beta of 2.03. The firm has a 50 day moving average of $6.83 and a 200 day moving average of $6.54.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million for the quarter, compared to the consensus estimate of $163.95 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS. Sell-side analysts predict that Sweetgreen will post -0.76 EPS 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.