Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Hold” from Brokerages

Sweetgreen, Inc. (NYSE:SG) has been given an average recommendation of “Hold” by the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.10.

Several analysts have recently commented on the stock. TD Cowen decreased their price objective on shares of Sweetgreen from $8.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. BNP Paribas Exane upped their target price on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $13.00 in a research note on Friday, May 22nd. Royal Bank Of Canada cut their price target on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, Wells Fargo & Company decreased their price target on Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th.

Insider Activity

In related news, COO Jason Miles Cochran sold 4,809 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 207,076 shares of the company’s stock, valued at approximately $1,285,941.96. The trade was a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 210,489 shares of the company’s stock, valued at $1,307,136.69. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 18.19% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its holdings in shares of Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after buying an additional 2,349 shares in the last quarter. Fifth Third Bancorp purchased a new position in Sweetgreen during the first quarter valued at $38,000. CWM LLC increased its holdings in Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after acquiring an additional 4,984 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after acquiring an additional 5,839 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC purchased a new stake in Sweetgreen in the 1st quarter worth $56,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.4%

Sweetgreen stock opened at $6.94 on Monday. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $10.63. The firm has a market capitalization of $826.14 million, a price-to-earnings ratio of 69.41 and a beta of 2.19. The firm has a 50 day moving average of $7.02 and a 200 day moving average of $6.83.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The firm had revenue of $192.66 million for the quarter, compared to analysts’ expectations of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. Sweetgreen’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) EPS. On average, analysts predict that Sweetgreen will post -0.98 EPS for the current year.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.