Sweetgreen (NYSE:SG) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Sweetgreen (NYSE:SG) in a research note released on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $19.00 price objective on the stock.

A number of other brokerages have also issued reports on SG. Piper Sandler decreased their target price on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Oppenheimer reduced their price objective on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group dropped their target price on Sweetgreen from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 4th. UBS Group cut their price target on Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, TD Securities reissued a “buy” rating and issued a $25.00 price target on shares of Sweetgreen in a research note on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.31.

Sweetgreen Trading Up 0.6%

Shares of Sweetgreen stock opened at $12.65 on Monday. Sweetgreen has a 1 year low of $12.37 and a 1 year high of $45.12. The company has a market cap of $1.48 billion, a P/E ratio of -16.22 and a beta of 2.06. The stock has a 50-day moving average price of $16.48 and a 200 day moving average price of $24.81.

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

Insider Buying and Selling

In other news, CFO Mitch Reback sold 10,088 shares of Sweetgreen stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.23, for a total value of $153,640.24. Following the transaction, the chief financial officer now directly owns 334,421 shares in the company, valued at approximately $5,093,231.83. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clifford Burrows acquired 19,200 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of $13.11 per share, with a total value of $251,712.00. Following the transaction, the director now directly owns 19,200 shares in the company, valued at $251,712. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its position in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC raised its stake in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the period. Millstone Evans Group LLC acquired a new stake in Sweetgreen in the 4th quarter worth $53,000. Finally, Denver PWM LLC acquired a new stake in Sweetgreen in the 4th quarter worth $60,000. 95.75% of the stock is 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.