Sweetgreen (NYSE:SG) Given New $28.00 Price Target at Morgan Stanley

Sweetgreen (NYSE:SG) had its price objective lowered by Morgan Stanley from $32.00 to $28.00 in a report published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also weighed in on SG. 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 reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Oppenheimer decreased their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $49.00 in a research note on Friday, January 10th. Finally, KeyCorp initiated coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.20.

Sweetgreen Stock Performance

Shares of SG opened at $30.53 on Tuesday. Sweetgreen has a 52-week low of $10.09 and a 52-week high of $45.12. The stock has a 50 day simple moving average of $35.77 and a 200 day simple moving average of $33.88. The firm has a market capitalization of $3.53 billion, a PE ratio of -39.14 and a beta of 2.38.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $173.43 million for the quarter, compared to the consensus estimate of $173.67 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Equities research analysts predict that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $77,228,422.28. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathaniel Ru sold 1,263 shares of Sweetgreen stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $50,532.63. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 648,838 shares of company stock valued at $25,065,773. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several hedge funds have recently made changes to their positions in SG. Hollencrest Capital Management bought a new position in Sweetgreen in the 3rd quarter worth approximately $35,000. KBC Group NV grew its position in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares in the last quarter. Sachetta LLC increased its stake in Sweetgreen by 37.6% in the 4th quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after acquiring an additional 1,182 shares during the last quarter. Quest Partners LLC increased its position in shares of Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after purchasing an additional 1,728 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Sweetgreen during the third quarter valued at approximately $155,000. 95.75% of the stock is currently 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.