Sweetgreen (NYSE:SG) Receives Market Perform Rating from William Blair

William Blair reissued their market perform rating on shares of Sweetgreen (NYSE:SG) in a report issued on Friday morning, MarketBeat.com reports.

A number of other research firms have also recently commented on SG. Zacks Research cut Sweetgreen from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Barclays cut their price objective on shares of Sweetgreen from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. UBS Group decreased their target price on shares of Sweetgreen from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. TD Cowen lowered their target price on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Finally, Piper Sandler reduced their price target on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.04.

Sweetgreen Stock Down 7.9%

Shares of SG traded down $0.50 during mid-day trading on Friday, reaching $5.76. 20,769,705 shares of the company’s stock were exchanged, compared to its average volume of 5,969,859. Sweetgreen has a 52-week low of $5.20 and a 52-week high of $45.12. The company has a market cap of $680.31 million, a price-to-earnings ratio of -5.93 and a beta of 1.94. The company has a 50-day simple moving average of $7.85 and a two-hundred day simple moving average of $11.63.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, November 6th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). The company had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.06%. Sweetgreen’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. Sweetgreen has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares of the company’s stock, valued at approximately $2,967,368.29. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.78% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Several large investors have recently added to or reduced their stakes in the stock. Greenhouse Funds LLLP purchased a new position in Sweetgreen in the second quarter valued at about $32,122,000. Wellington Management Group LLP grew its stake in shares of Sweetgreen by 30.0% in the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company’s stock valued at $144,180,000 after buying an additional 1,330,094 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Sweetgreen during the 1st quarter valued at about $31,558,000. Stephens Investment Management Group LLC lifted its position in Sweetgreen by 89.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company’s stock worth $38,205,000 after acquiring an additional 1,212,708 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Sweetgreen by 891.1% in the 2nd quarter. Blair William & Co. IL now owns 1,157,405 shares of the company’s stock worth $17,222,000 after acquiring an additional 1,040,629 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

About Sweetgreen

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.