Sweetgreen (NYSE:SG) Now Covered by Citizens Jmp

Citizens Jmp assumed coverage on shares of Sweetgreen (NYSE:SG) in a research note published on Monday, MarketBeat.com reports. The firm issued a mkt underperform rating and a $4.50 price objective on the stock.

A number of other equities analysts have also recently issued reports on SG. Wolfe Research began coverage on Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. Oppenheimer decreased their price target on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Wells Fargo & Company lowered Sweetgreen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $10.00 to $7.00 in a research note on Wednesday, December 17th. Piper Sandler cut their price objective on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Friday. Finally, UBS Group dropped their target price on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.84.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $4.79 on Monday. Sweetgreen has a 52-week low of $4.49 and a 52-week high of $25.88. The firm has a market capitalization of $567.23 million, a PE ratio of -4.20 and a beta of 1.93. The company’s fifty day moving average price is $5.75 and its two-hundred day moving average price is $6.68.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The business had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.Sweetgreen’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) earnings per share. Analysts predict that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet acquired 4,428 shares of Sweetgreen stock in a transaction on Thursday, March 5th. The shares were bought at an average price of $5.71 per share, with a total value of $25,283.88. Following the completion of the purchase, the insider owned 22,543 shares in the company, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 19.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SG. RPG Investment Advisory LLC increased its position in Sweetgreen by 33.2% in the 3rd quarter. RPG Investment Advisory LLC now owns 616,191 shares of the company’s stock valued at $4,916,000 after acquiring an additional 153,525 shares in the last quarter. Greenhouse Funds LLLP acquired a new position in shares of Sweetgreen during the second quarter worth approximately $32,122,000. Spyglass Capital Management LLC grew its stake in shares of Sweetgreen by 15.2% during the second quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after purchasing an additional 513,643 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Sweetgreen by 75.8% in the third quarter. Citigroup Inc. now owns 531,171 shares of the company’s stock valued at $4,239,000 after purchasing an additional 228,961 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Sweetgreen in the third quarter valued at approximately $4,527,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.