Sweetgreen (NYSE:SG) Now Covered by Barclays

Barclays initiated coverage on shares of Sweetgreen (NYSE:SG) in a research report report published on Friday, MarketBeat reports. The firm issued an equal weight rating and a $16.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. Oppenheimer reduced their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group reduced their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.08.

Sweetgreen Stock Up 1.1%

Shares of SG opened at $14.05 on Friday. The firm has a 50-day moving average price of $17.46 and a 200 day moving average price of $26.24. The firm has a market capitalization of $1.65 billion, a PE ratio of -18.01 and a beta of 2.06. Sweetgreen has a 52-week low of $12.37 and a 52-week high of $45.12.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.21). The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. Sweetgreen’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) EPS. On average, equities analysts expect that Sweetgreen will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Clifford Burrows purchased 19,200 shares of Sweetgreen stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $13.11 per share, with a total value of $251,712.00. Following the completion of the transaction, the director now directly owns 19,200 shares of the company’s stock, valued at $251,712. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 35,014 shares of company stock worth $736,283 over the last ninety days. 21.52% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

A number of hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its position in shares of Sweetgreen by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock worth $336,000 after purchasing an additional 473 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after purchasing an additional 494 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Sweetgreen by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock worth $1,608,000 after purchasing an additional 600 shares in the last quarter. Oberweis Asset Management Inc. lifted its position in shares of Sweetgreen by 0.6% in the fourth quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company’s stock worth $3,084,000 after purchasing an additional 610 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Sweetgreen by 2.1% in the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company’s stock worth $947,000 after purchasing an additional 613 shares in the last quarter. 95.75% of the stock is 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.