Sweetgreen (NYSE:SG) Now Covered by Barclays

Barclays initiated coverage on shares of Sweetgreen (NYSE:SG) in a research report report published on Friday morning, Marketbeat reports. The firm issued an equal weight rating and a $16.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. TD Securities restated a “buy” rating and issued a $25.00 target price on shares of Sweetgreen in a research note on Thursday, May 15th. Piper Sandler reduced their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Citigroup reduced their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Sweetgreen Trading Up 1.1%

Shares of SG stock opened at $14.05 on Friday. The company has a market capitalization of $1.65 billion, a PE ratio of -18.01 and a beta of 2.06. The firm has a fifty day simple moving average of $17.46 and a 200-day simple moving average of $26.24. Sweetgreen has a twelve month low of $12.37 and a twelve month high of $45.12.

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

Insiders Place Their Bets

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at approximately $42,485,356.20. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Clifford Burrows acquired 19,200 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the acquisition, the director now owns 19,200 shares in the company, valued at approximately $251,712. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 35,014 shares of company stock valued at $736,283. Company insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC increased its holdings in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares during the period. Spire Wealth Management increased its holdings in shares of Sweetgreen by 47.1% in the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after acquiring an additional 635 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen in the 4th quarter worth about $53,000. Institutional investors and hedge funds 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.