Sweetgreen (NYSE:SG) Stock Rating Reaffirmed by TD Cowen

TD Cowen restated their hold rating on shares of Sweetgreen (NYSE:SG) in a report issued on Wednesday, Benzinga reports. TD Cowen currently has a $17.00 price objective on the stock.

SG has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Sweetgreen from $20.00 to $28.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Oppenheimer increased their price objective on shares of Sweetgreen from $17.00 to $34.00 and gave the stock an outperform rating in a research note on Monday, April 1st. Piper Sandler increased their price objective on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Morgan Stanley increased their price objective on shares of Sweetgreen from $10.00 to $11.00 and gave the stock an underweight rating in a research note on Friday, March 1st. Finally, Citigroup increased their price objective on shares of Sweetgreen from $12.00 to $13.00 and gave the stock a neutral rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $19.88.

Sweetgreen Stock Performance

NYSE:SG opened at $22.83 on Wednesday. Sweetgreen has a 52 week low of $7.25 and a 52 week high of $26.45. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -22.83 and a beta of 2.20. The firm’s 50-day simple moving average is $17.96 and its 200 day simple moving average is $13.17.

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

Insider Activity

In other news, CFO Mitch Reback sold 10,288 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the sale, the chief financial officer now directly owns 432,393 shares in the company, valued at approximately $5,188,716. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jonathan Neman sold 58,067 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.36, for a total value of $949,976.12. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $34,356,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mitch Reback sold 10,288 shares of the business’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 transaction of $123,456.00. Following the completion of the transaction, the chief financial officer now owns 432,393 shares in the company, valued at approximately $5,188,716. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,555 shares of company stock worth $2,266,739. Corporate insiders own 22.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in shares of Sweetgreen by 394.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock valued at $26,000 after acquiring an additional 2,586 shares during the period. Bourgeon Capital Management LLC bought a new stake in Sweetgreen during the 3rd quarter valued at $29,000. Clear Street Markets LLC bought a new stake in Sweetgreen during the 4th quarter valued at $33,000. Asset Dedication LLC bought a new stake in Sweetgreen during the 2nd quarter valued at $58,000. Finally, Comerica Bank bought a new stake in Sweetgreen during the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.