Citigroup Cuts Sweetgreen (NYSE:SG) Price Target to $43.00

Sweetgreen (NYSE:SG) had its target price cut by Citigroup from $49.00 to $43.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. UBS Group boosted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley cut their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.60.

Sweetgreen Stock Up 0.1 %

Shares of SG stock opened at $27.17 on Wednesday. The firm has a market cap of $3.14 billion, a PE ratio of -34.84 and a beta of 2.37. Sweetgreen has a 12 month low of $10.93 and a 12 month high of $45.12. The company’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $34.41.

Insider Buying and Selling

In other news, CFO Mitch Reback sold 9,507 shares of Sweetgreen stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $323,713.35. Following the completion of the sale, the chief financial officer now owns 360,177 shares of the company’s stock, valued at approximately $12,264,026.85. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,607 shares of company stock valued at $23,177,393. Company insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of SG. Ameritas Investment Partners Inc. raised its position in shares of Sweetgreen by 4.7% in the 4th quarter. Ameritas Investment Partners Inc. now owns 10,479 shares of the company’s stock valued at $336,000 after buying an additional 473 shares in the last quarter. Cypress Wealth Services LLC increased its stake in Sweetgreen by 6.1% in the fourth 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. Tower Research Capital LLC TRC raised its position in Sweetgreen by 45.7% during the fourth 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds 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.