Sweetgreen (NYSE:SG) Rating Reiterated by TD Cowen

Sweetgreen (NYSE:SG)‘s stock had its “buy” rating restated by TD Cowen in a research report issued on Friday, Benzinga reports. They presently have a $43.00 target price on the stock. TD Cowen’s price target suggests a potential upside of 19.61% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada raised their price objective on Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Bank of America lifted their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. UBS Group raised their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Oppenheimer boosted their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Sweetgreen Stock Up 2.9 %

Sweetgreen stock opened at $35.95 on Friday. The stock has a market cap of $4.10 billion, a PE ratio of -38.66 and a beta of 2.32. Sweetgreen has a 12-month low of $8.64 and a 12-month high of $38.53. The business’s 50-day moving average price is $31.52 and its two-hundred day moving average price is $28.46.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company had revenue of $184.60 million for 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. Sweetgreen’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, analysts expect that Sweetgreen will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In other Sweetgreen news, insider Nathaniel Ru sold 9,250 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at approximately $56,104,187.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the transaction, the insider now directly owns 114,842 shares of the company’s stock, valued at $4,169,913.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the sale, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $56,104,187.46. The disclosure for this sale can be found here. Insiders sold 426,061 shares of company stock valued at $15,071,720 over the last quarter. Insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Boulder Hill Capital Management LP acquired a new position in Sweetgreen during the 4th quarter worth approximately $868,000. Conrad N. Hilton Foundation acquired a new position in shares of Sweetgreen during the fourth quarter worth approximately $434,000. Sei Investments Co. acquired a new position in shares of Sweetgreen during the first quarter worth approximately $1,110,000. Vanguard Group Inc. lifted its holdings in shares of Sweetgreen by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock worth $94,361,000 after purchasing an additional 224,522 shares in the last quarter. Finally, Davidson Kempner Capital Management LP grew its position in Sweetgreen by 40.1% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares during the period. Institutional investors own 95.75% of the company’s stock.

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.