Sweetgreen, Inc. (NYSE:SG) Given Average Recommendation of “Hold” by Brokerages

Sweetgreen, Inc. (NYSE:SG) has been assigned an average rating of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.0375.

A number of equities research analysts recently commented on SG shares. BNP Paribas Exane upped their price objective on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a report on Friday, May 8th. Royal Bank Of Canada reduced their target price on Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. TD Cowen boosted their target price on Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th. UBS Group upped their price target on Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Piper Sandler cut their price target on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th.

Insider Buying and Selling at Sweetgreen

In other news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was bought 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 of the company’s stock, valued at approximately $67,712,450.95. This represents a 5.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares in the last quarter. Fifth Third Bancorp acquired a new stake in Sweetgreen during the 1st quarter worth approximately $38,000. Skandinaviska Enskilda Banken AB publ lifted its stake in Sweetgreen by 124.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after buying an additional 3,484 shares in the last quarter. CWM LLC lifted its stake in Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after buying an additional 4,984 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after buying an additional 5,839 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Trading Up 0.0%

Shares of NYSE SG opened at $8.97 on Wednesday. The firm has a market capitalization of $1.07 billion, a PE ratio of 74.79 and a beta of 2.15. The firm’s 50-day moving average is $7.79 and its 200-day moving average is $6.79. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $16.70.

Sweetgreen (NYSE:SG) last released its earnings results on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.Sweetgreen’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.21) EPS. As a group, equities research analysts anticipate 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.