Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Hold” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus recommendation of “Hold” by the nineteen analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.0375.

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada lowered their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. DA Davidson lifted their price objective on shares of Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Piper Sandler lowered their price objective on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Wolfe Research initiated coverage on Sweetgreen in a research report on Monday, March 9th. They set a “peer perform” rating for the company.

Insider Activity at Sweetgreen

In related news, major shareholder Goldman Sachs Group Inc acquired 594,553 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the acquisition, the insider directly owned 11,900,255 shares in the company, valued at $67,712,450.95. This represents a 5.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Jammet acquired 4,428 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $5.71 per share, with a total value of $25,283.88. Following the acquisition, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 19.78% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently modified their holdings of SG. Royal Bank of Canada lifted its holdings in shares of Sweetgreen by 22.4% in the 1st quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock valued at $7,292,000 after buying an additional 53,427 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sweetgreen by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock valued at $1,516,000 after buying an additional 3,553 shares during the period. Prudential Financial Inc. acquired a new position in shares of Sweetgreen in the 2nd quarter valued at $197,000. Qube Research & Technologies Ltd acquired a new position in shares of Sweetgreen in the 2nd quarter valued at $538,000. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Sweetgreen by 121.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company’s stock valued at $10,122,000 after purchasing an additional 373,350 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $10.08 on Friday. Sweetgreen has a fifty-two week low of $4.49 and a fifty-two week high of $16.70. The company has a market cap of $1.20 billion, a PE ratio of 83.97 and a beta of 2.03. The business has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $6.49.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.95 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) EPS. On average, sell-side analysts predict that Sweetgreen will post -0.76 earnings per share for the current fiscal year.

Sweetgreen Company Profile

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.