Sweetgreen, Inc. (NYSE:SG) Given Consensus Recommendation of “Hold” by Brokerages

Sweetgreen, Inc. (NYSE:SG) has received a consensus rating of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.84.

SG has been the subject of several recent research reports. Citizens Jmp assumed coverage on Sweetgreen in a report on Monday. They set a “mkt underperform” rating and a $4.50 price objective for the company. Oppenheimer cut their target price on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. DA Davidson began coverage on shares of Sweetgreen in a research report on Friday, March 6th. They issued a “neutral” rating and a $5.50 price target for the company. Sanford C. Bernstein set a $7.00 price target on shares of Sweetgreen in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada lowered their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet bought 4,428 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the acquisition, the insider directly owned 22,543 shares of the company’s stock, valued at approximately $128,720.53. The trade was a 24.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.78% of the stock is owned by corporate insiders.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after purchasing an additional 2,127 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of Sweetgreen by 1,150.0% during the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after buying an additional 4,600 shares during the last quarter. CWM LLC grew its holdings in Sweetgreen by 212.2% during 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after buying an additional 5,839 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Price Performance

SG stock opened at $5.38 on Friday. The company’s 50-day moving average is $5.65 and its 200-day moving average is $6.64. The stock has a market capitalization of $637.30 million, a PE ratio of -4.72 and a beta of 1.90. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $24.47.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The firm had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Sweetgreen Company Profile

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.