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

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.5733.

SG has been the topic of several recent research reports. UBS Group raised 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. Citizens Jmp assumed coverage on Sweetgreen in a research note on Monday, March 30th. They issued a “mkt underperform” rating and a $4.50 target price on the stock. Weiss Ratings upgraded Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. 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. Finally, DA Davidson upped their price target on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SG. Woodson Capital Management LP raised its holdings in Sweetgreen by 152.6% in the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock worth $40,560,000 after purchasing an additional 3,625,000 shares during the period. Spyglass Capital Management LLC increased its position in shares of Sweetgreen by 4.0% in the 3rd 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. Marshall Wace LLP increased its position in shares of Sweetgreen by 1,428.8% in the 3rd 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. Federated Hermes Inc. raised its stake in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after buying an additional 2,080,628 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Sweetgreen by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock worth $16,589,000 after acquiring an additional 16,281 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG stock opened at $7.11 on Friday. Sweetgreen has a 52-week low of $4.49 and a 52-week high of $16.70. The stock has a market cap of $844.52 million, a PE ratio of 59.23 and a beta of 2.17. The firm’s 50 day moving average price is $8.39 and its two-hundred day moving average price is $6.97.

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 $163.94 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, sell-side analysts predict that Sweetgreen will post -0.76 earnings per share for the current fiscal 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.