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 research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.0375.

Several research firms have recently weighed in on SG. BNP Paribas Exane upped their price objective on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research note on Friday, May 8th. Oppenheimer upped their price objective on Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. UBS Group increased their price target on Sweetgreen from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wolfe Research began coverage on Sweetgreen in a research report on Monday, March 9th. They set a “peer perform” rating on the stock. Finally, TD Cowen increased their price target on Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the completion of the purchase, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. This represents a 5.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.19% of the company’s stock.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Sweetgreen by 1.4% in the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock valued at $76,558,000 after buying an additional 129,572 shares in the last quarter. Woodson Capital Management LP increased its stake in shares of Sweetgreen by 152.6% in the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after buying an additional 3,625,000 shares in the last quarter. Spyglass Capital Management LLC increased its stake in shares of Sweetgreen by 4.0% in the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after buying an additional 156,757 shares in the last quarter. Greenhouse Funds LLLP increased its stake in shares of Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after buying an additional 1,788,175 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after buying an additional 3,667,306 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Trading Up 2.8%

SG stock opened at $9.11 on Wednesday. Sweetgreen has a 1-year low of $4.49 and a 1-year high of $16.70. The firm has a market cap of $1.08 billion, a P/E ratio of 75.94 and a beta of 2.16. The business’s 50 day moving average is $7.60 and its 200-day moving average is $6.75.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The company had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.95 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts forecast that Sweetgreen will post -0.76 EPS for the current 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.