Sweetgreen (NYSE:SG) PT Raised to $16.00

Sweetgreen (NYSE:SG) had its price target increased by Morgan Stanley from $11.00 to $16.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler increased their price target on Sweetgreen from $16.00 to $19.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Oppenheimer increased their price target on Sweetgreen from $17.00 to $34.00 and gave the stock an outperform rating in a research report on Monday, April 1st. JPMorgan Chase & Co. increased their price target on Sweetgreen from $20.00 to $28.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. TD Cowen reissued a hold rating and set a $17.00 price target on shares of Sweetgreen in a research report on Wednesday, April 10th. Finally, Citigroup increased their price target on Sweetgreen from $12.00 to $13.00 and gave the stock a neutral rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $20.50.

Sweetgreen Price Performance

SG stock opened at $21.08 on Friday. Sweetgreen has a fifty-two week low of $7.25 and a fifty-two week high of $26.45. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -21.08 and a beta of 2.19. The business’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $13.42.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $153.00 million for the quarter, compared to the consensus estimate of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. Sweetgreen’s revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.44) earnings per share. Research analysts expect that Sweetgreen will post -0.65 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 29,475 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total value of $619,269.75. Following the completion of the sale, the chief financial officer now directly owns 405,584 shares in the company, valued at approximately $8,521,319.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Mitch Reback sold 29,475 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total value of $619,269.75. Following the completion of the sale, the chief financial officer now directly owns 405,584 shares in the company, valued at approximately $8,521,319.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jonathan Neman sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $11.55, for a total value of $57,750.00. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at $24,255,000. The disclosure for this sale can be found here. Insiders sold 145,555 shares of company stock worth $2,266,739 over the last three months. Insiders own 22.03% of the company’s stock.

Institutional Trading of Sweetgreen

Several large investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in Sweetgreen by 146.1% in the 4th quarter. Baillie Gifford & Co. now owns 5,291,714 shares of the company’s stock valued at $45,350,000 after acquiring an additional 3,141,070 shares in the last quarter. Invesco Ltd. lifted its position in Sweetgreen by 1,435.2% in the 3rd quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock valued at $19,679,000 after acquiring an additional 1,565,700 shares in the last quarter. First Manhattan CO. LLC. lifted its position in Sweetgreen by 421.6% in the 1st quarter. First Manhattan CO. LLC. now owns 1,262,265 shares of the company’s stock valued at $9,896,000 after acquiring an additional 1,020,265 shares in the last quarter. Marshall Wace LLP lifted its position in Sweetgreen by 1,009.4% in the 4th quarter. Marshall Wace LLP now owns 1,009,668 shares of the company’s stock valued at $8,653,000 after acquiring an additional 918,656 shares in the last quarter. Finally, Teca Partners LP bought a new position in Sweetgreen in the 4th quarter valued at about $8,475,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

About Sweetgreen

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.