Sweetgreen (NYSE:SG) Earns “Buy” Rating from TD Cowen

Sweetgreen (NYSE:SG)‘s stock had its “buy” rating reissued by research analysts at TD Cowen in a note issued to investors on Monday,Benzinga reports. They currently have a $45.00 price objective on the stock. TD Cowen’s target price points to a potential upside of 18.76% from the stock’s current price.

Several other research firms have also recently weighed in on SG. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Morgan Stanley boosted their price target on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Oppenheimer lifted their price objective on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $37.89 on Monday. Sweetgreen has a one year low of $9.21 and a one year high of $42.77. The stock’s 50-day moving average is $36.50 and its 200-day moving average is $32.13. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -48.58 and a beta of 2.32.

Insider Activity at Sweetgreen

In other Sweetgreen news, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the transaction, the chief technology officer now directly owns 140,302 shares in the company, valued at $4,777,283.10. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $6,072,744.44. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 460,941 shares of company stock valued at $16,511,188. 21.52% of the stock is owned by company insiders.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of SG. Hollencrest Capital Management bought a new position in shares of Sweetgreen in the third quarter worth about $35,000. Quest Partners LLC acquired a new position in shares of Sweetgreen during the second quarter valued at about $76,000. KBC Group NV grew its position in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Sweetgreen in the third quarter valued at approximately $155,000. Finally, Canton Hathaway LLC purchased a new stake in Sweetgreen during the 3rd quarter worth approximately $177,000. 95.75% of the stock is currently owned by institutional investors.

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.