Sweetgreen (NYSE:SG) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Sweetgreen (NYSE:SG) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat.com reports. The firm currently has $49.00 target price on the stock, up from their prior target price of $44.00.

SG has been the subject of several other research reports. UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Oppenheimer lowered their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.10.

Sweetgreen Stock Performance

SG opened at $33.11 on Friday. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -42.45 and a beta of 2.38. The firm’s 50-day simple moving average is $36.78 and its 200-day simple moving average is $33.69.

Insider Transactions at Sweetgreen

In related news, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the sale, the insider now owns 107,313 shares in the company, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nathaniel Ru sold 1,263 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the transaction, the insider now owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 640,838 shares of company stock worth $24,800,733 in the last quarter. 21.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the third quarter worth about $35,000. Quest Partners LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at approximately $76,000. KBC Group NV lifted its position in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Sweetgreen during the third quarter worth $155,000. Finally, Canton Hathaway LLC bought a new position in Sweetgreen in the third quarter valued at $177,000. Institutional investors own 95.75% of the company’s stock.

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.