Sweetgreen, Inc. (NYSE:SG) Receives $36.27 Consensus PT from Analysts

Sweetgreen, Inc. (NYSE:SG) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.27.

Several analysts recently weighed in on SG shares. Piper Sandler reduced their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. TD Securities reduced their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Morgan Stanley dropped their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th.

Sweetgreen Price Performance

Shares of NYSE SG opened at $25.58 on Monday. The stock’s 50-day moving average is $26.62 and its two-hundred day moving average is $32.89. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -32.79 and a beta of 2.44. Sweetgreen has a 1-year low of $18.77 and a 1-year high of $45.12.

Insider Transactions at Sweetgreen

In related news, Director Nathaniel Ru sold 2,123 shares of the firm’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 $50,527.40. Following the transaction, the director now owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Rossann Williams sold 4,977 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $118,452.60. Following the sale, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at approximately $2,273,280.80. This represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,852 shares of company stock worth $1,052,177. Insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock worth $323,933,000 after acquiring an additional 329,789 shares during the period. Vanguard Group Inc. lifted its position in Sweetgreen by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after purchasing an additional 351,240 shares during the period. Invesco Ltd. boosted its holdings in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after purchasing an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Sweetgreen by 30.1% in the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock valued at $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Sweetgreen by 13.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after purchasing an additional 272,340 shares during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.