Brokerages Set Sweetgreen, Inc. (NYSE:SG) PT at $29.67

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.67.

Several equities analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Citigroup boosted their target price on shares of Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. TD Cowen boosted their target price on shares of Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, June 13th. Royal Bank of Canada boosted their target price on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, William Blair restated an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $64,050,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jonathan Neman sold 150,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $64,050,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,889 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $121,920.15. Following the completion of the sale, the insider now directly owns 125,518 shares in the company, valued at $3,934,989.30. The disclosure for this sale can be found here. Insiders have sold 440,692 shares of company stock valued at $13,738,038 in the last ninety days. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently modified their holdings of SG. Boulder Hill Capital Management LP bought a new position in Sweetgreen during the fourth quarter worth $868,000. Vanguard Group Inc. boosted its stake in Sweetgreen by 3.1% during the third quarter. Vanguard Group Inc. now owns 8,126,030 shares of the company’s stock worth $95,481,000 after acquiring an additional 245,255 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Sweetgreen by 100.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 298,585 shares of the company’s stock worth $3,508,000 after buying an additional 149,871 shares during the last quarter. Conrad N. Hilton Foundation acquired a new position in Sweetgreen during the fourth quarter worth $434,000. Finally, FMR LLC raised its holdings in Sweetgreen by 0.6% during the third quarter. FMR LLC now owns 14,810,112 shares of the company’s stock worth $174,019,000 after buying an additional 84,375 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Stock Performance

Shares of SG stock opened at $28.64 on Friday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -30.80 and a beta of 2.34. The company has a 50-day simple moving average of $28.26 and a 200 day simple moving average of $19.71. Sweetgreen has a 52 week low of $8.64 and a 52 week high of $36.72.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The business had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. During the same quarter last year, the firm earned ($0.29) EPS. Sweetgreen’s revenue for the quarter was up 26.2% compared to the same quarter last year. Sell-side analysts forecast that Sweetgreen will post -0.73 EPS for the current year.

Sweetgreen Company Profile

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.