Sweetgreen (NYSE:SG) Given “Hold” Rating at TD Cowen

Sweetgreen (NYSE:SG)‘s stock had its “hold” rating reissued by analysts at TD Cowen in a report released on Wednesday, Benzinga reports. They currently have a $17.00 target price on the stock. TD Cowen’s price objective points to a potential downside of 25.54% from the stock’s current price.

A number of other brokerages have also recently commented on SG. Citigroup increased their target price on Sweetgreen from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 21st. Oppenheimer increased their target price on Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Piper Sandler increased their target price on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Morgan Stanley increased their target price on Sweetgreen from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. increased their target price on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Sweetgreen Trading Down 0.1 %

NYSE SG opened at $22.83 on Wednesday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -22.83 and a beta of 2.20. Sweetgreen has a twelve month low of $7.25 and a twelve month high of $26.45. The stock has a 50-day moving average of $17.96 and a 200 day moving average of $13.17.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $153.00 million during the quarter, compared to analyst estimates of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.44) EPS. Equities analysts predict that Sweetgreen will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mitch Reback sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the sale, the chief financial officer now directly owns 432,393 shares in the company, valued at $5,188,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jonathan Neman sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $11.55, for a total value of $57,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $24,255,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mitch Reback sold 10,288 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the transaction, the chief financial officer now owns 432,393 shares of the company’s stock, valued at $5,188,716. The disclosure for this sale can be found here. Insiders sold 145,555 shares of company stock worth $2,266,739 over the last ninety days. Corporate insiders own 22.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in Sweetgreen by 2.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after acquiring an additional 830 shares during the period. HighTower Advisors LLC grew its position in Sweetgreen by 10.1% in the fourth quarter. HighTower Advisors LLC now owns 11,293 shares of the company’s stock worth $97,000 after acquiring an additional 1,036 shares during the period. Brown Advisory Inc. grew its position in Sweetgreen by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 108,572 shares of the company’s stock worth $930,000 after acquiring an additional 1,092 shares during the period. Ameritas Investment Partners Inc. grew its position in Sweetgreen by 16.2% in the second quarter. Ameritas Investment Partners Inc. now owns 7,982 shares of the company’s stock worth $102,000 after acquiring an additional 1,111 shares during the period. Finally, Forum Financial Management LP grew its position in Sweetgreen by 12.6% in the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after acquiring an additional 1,262 shares during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Company Profile

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.