Sweetgreen’s (SG) Neutral Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of Sweetgreen (NYSE:SG) in a research note released on Friday, Marketbeat reports. The Goldman Sachs Group currently has a $40.00 price objective on the stock.

A number of other brokerages also recently weighed in on SG. Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. TD Cowen reissued a “buy” rating and set a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. Finally, Oppenheimer upped their target price on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Trading Down 5.9 %

Sweetgreen stock traded down $2.51 during mid-day trading on Friday, hitting $39.69. 11,646,145 shares of the company’s stock were exchanged, compared to its average volume of 2,871,673. Sweetgreen has a 1-year low of $8.64 and a 1-year high of $42.77. The stock has a 50 day moving average of $35.59 and a two-hundred day moving average of $31.34. The stock has a market cap of $4.53 billion, a P/E ratio of -48.40 and a beta of 2.32.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) EPS. As a group, research analysts predict that Sweetgreen will post -0.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Adrienne Gemperle sold 3,868 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares in the company, valued at $4,169,913.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sweetgreen 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 value of $140,447.08. Following the completion of the sale, the insider now owns 114,842 shares in the company, valued at $4,169,913.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 466,022 shares of company stock worth $16,671,481 in the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oliver Luxxe Assets LLC acquired a new stake in Sweetgreen during the third quarter worth approximately $1,973,000. Sei Investments Co. bought a new stake in Sweetgreen in the 1st quarter valued at $1,110,000. Davidson Kempner Capital Management LP grew its holdings 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 buying an additional 164,600 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in Sweetgreen during the 3rd quarter worth $3,329,000. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after buying an additional 547,816 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

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.