Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Moderate Buy” from Brokerages

Sweetgreen, Inc. (NYSE:SG) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $38.20.

A number of research firms have recently weighed in on SG. JPMorgan Chase & Co. boosted their price target on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. The Goldman Sachs Group initiated coverage on shares of Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 target price on the stock. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Royal Bank of Canada upped their price objective on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, UBS Group raised their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 9,156 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.61, for a total transaction of $335,201.16. Following the completion of the sale, the chief financial officer now directly owns 379,181 shares in the company, valued at approximately $13,881,816.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at approximately $13,881,816.41. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock worth $15,071,720 in the last quarter. 21.52% of the stock is owned by insiders.

Institutional Trading of Sweetgreen

Hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Sweetgreen during the second quarter worth about $76,000. Versor Investments LP purchased a new stake in Sweetgreen during the 2nd quarter worth approximately $217,000. Thoroughbred Financial Services LLC purchased a new stake in Sweetgreen during the 2nd quarter worth approximately $233,000. Nkcfo LLC acquired a new position in shares of Sweetgreen in the 2nd quarter valued at approximately $241,000. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of Sweetgreen during the 2nd quarter valued at approximately $256,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 2.9 %

Sweetgreen stock opened at $35.95 on Monday. The firm has a market capitalization of $4.07 billion, a PE ratio of -38.66 and a beta of 2.32. Sweetgreen has a 52 week low of $8.64 and a 52 week high of $38.53. The firm’s 50-day simple moving average is $31.52 and its 200 day simple moving average is $28.51.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, research analysts expect that Sweetgreen will post -0.75 EPS for the current fiscal 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.