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

Sweetgreen, Inc. (NYSE:SG) has been assigned an average rating of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.6786.

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sweetgreen in a report on Wednesday, October 8th. Barclays dropped their price target on Sweetgreen from $8.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Piper Sandler reduced their price objective on Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, The Goldman Sachs Group cut Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 target price on the stock. in a report on Friday, November 7th.

Insider Activity

In related news, CEO Jonathan Neman purchased 179,800 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $5.56 per share, with a total value of $999,688.00. Following the completion of the purchase, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at $999,688. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicolas Jammet acquired 18,115 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $5.51 per share, with a total value of $99,813.65. Following the transaction, the insider directly owned 18,115 shares in the company, valued at $99,813.65. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 19.78% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

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

Sweetgreen Price Performance

SG opened at $6.65 on Wednesday. The company has a market capitalization of $787.63 million, a P/E ratio of -6.86 and a beta of 1.93. The firm’s fifty day moving average price is $6.68 and its two-hundred day moving average price is $9.45. Sweetgreen has a fifty-two week low of $5.14 and a fifty-two week high of $35.95.

Sweetgreen (NYSE:SG) last announced 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). The business had revenue of $172.39 million during the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, equities research analysts expect that Sweetgreen will post -0.74 EPS for the current fiscal 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.