Sweetgreen (NYSE:SG) Given New $13.00 Price Target at KeyCorp

Sweetgreen (NYSE:SG) had its price objective boosted by KeyCorp from $12.00 to $13.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of Sweetgreen from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Royal Bank Of Canada raised their price objective on shares of Sweetgreen from $6.50 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. TD Cowen lifted their target price on shares of Sweetgreen from $9.00 to $11.00 and gave the company a “hold” rating in a research report on Friday. UBS Group upped their target price on shares of Sweetgreen from $6.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Finally, DA Davidson dropped their price target on shares of Sweetgreen from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.88.

Sweetgreen Price Performance

Shares of NYSE SG traded up $0.37 during trading hours on Friday, reaching $11.92. The stock had a trading volume of 12,911,641 shares, compared to its average volume of 4,465,237. The business’s fifty day moving average is $8.93 and its two-hundred day moving average is $7.31. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 79.50 and a beta of 2.11. Sweetgreen has a twelve month low of $4.49 and a twelve month high of $12.49.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, November 5th. The company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%. The firm had revenue of $176.02 million during the quarter, compared to analysts’ expectations of $170.07 million. During the same period last year, the business earned ($0.31) earnings per share. Sweetgreen’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Sweetgreen will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the transaction, the chief financial officer owned 210,489 shares of the company’s stock, valued at $1,307,136.69. This represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ibex Investors LLC boosted its stake in shares of Sweetgreen by 5.8% in the 3rd quarter. Ibex Investors LLC now owns 1,188,000 shares of the company’s stock valued at $10,538,000 after purchasing an additional 65,000 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Sweetgreen in the 2nd quarter worth about $4,557,000. Bank of New York Mellon Corp bought a new stake in shares of Sweetgreen in the 2nd quarter worth about $2,792,000. Granahan Investment Management LLC acquired a new stake in shares of Sweetgreen during the 1st quarter worth about $1,472,000. Finally, Quantinno Capital Management LP increased its position in shares of Sweetgreen by 495.3% during the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after purchasing an additional 161,209 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Trending Headlines about Sweetgreen

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Sweetgreen reported Q3 revenue of $176.0 million, up 2.1% year over year and above the roughly $170 million consensus estimate. Its $0.26-per-share loss was in line with consensus and narrower than the year-earlier loss. Same-store sales fell 6.4%, an improvement from a 9.5% decline a year ago. Sweetgreen Q3 results
• Positive Sentiment: Several firms raised their targets: Oppenheimer and Wells Fargo moved to $14, while KeyCorp raised its target to $13; all maintained bullish ratings. The revisions may bolster confidence following the earnings release. Oppenheimer rating Wells Fargo rating KeyCorp rating
• Neutral Sentiment: TD Cowen raised its target from $9 to $11 but kept a Hold rating; its new target remains below the stock’s recent trading level. TD Cowen rating
• Negative Sentiment: Despite improvement, same-store sales remained negative and overall revenue growth was modest. Reports tie the sales pressure to the Cyclospora outbreak, leaving investors focused on whether the recovery can continue. Same-store sales and outbreak recovery

Sweetgreen Company Profile

Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.

Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.