Sweetgreen (NYSE:SG) Earns Buy Rating from TD Securities

Sweetgreen (NYSE:SG)‘s stock had its “buy” rating reiterated by stock analysts at TD Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $25.00 price objective on the stock. TD Securities’ price objective would indicate a potential upside of 66.66% from the company’s current price.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, May 12th. UBS Group dropped their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price on shares of Sweetgreen from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Oppenheimer lowered their target price on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, Morgan Stanley dropped their price target on Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Sweetgreen Stock Performance

Shares of SG stock opened at $15.00 on Thursday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.23 and a beta of 2.31. Sweetgreen has a one year low of $14.61 and a one year high of $45.12. The company’s 50-day simple moving average is $20.89 and its 200-day simple moving average is $28.73.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $164.68 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. Sweetgreen’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. As a group, research analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total transaction of $84,280.00. Following the transaction, the chief financial officer now owns 344,509 shares of the company’s stock, valued at approximately $7,258,804.63. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares in the company, valued at $2,273,280.80. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 in the last three months. 21.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cypress Wealth Services LLC lifted its holdings in Sweetgreen by 6.1% in the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after acquiring an additional 483 shares during the last quarter. Liberty One Investment Management LLC acquired a new stake in Sweetgreen during the fourth quarter valued at approximately $582,000. Janney Montgomery Scott LLC boosted its holdings in Sweetgreen by 27.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company’s stock worth $375,000 after buying an additional 2,488 shares in the last quarter. Sachetta LLC grew its position in Sweetgreen by 37.6% in the fourth quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after buying an additional 1,182 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Sweetgreen by 65.0% in the fourth quarter. KBC Group NV now owns 5,161 shares of the company’s stock valued at $165,000 after buying an additional 2,034 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

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.