Sweetgreen’s (SG) Buy Rating Reiterated at TD Cowen

TD Cowen reissued their buy rating on shares of Sweetgreen (NYSE:SG) in a research note published on Monday morning,Benzinga reports. They currently have a $45.00 target price on the stock.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Citigroup boosted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, Oppenheimer upped their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Up 0.1 %

NYSE SG opened at $37.91 on Monday. The company has a market capitalization of $4.39 billion, a P/E ratio of -48.60 and a beta of 2.32. Sweetgreen has a 12-month low of $9.21 and a 12-month high of $42.77. The firm has a 50-day moving average price of $36.62 and a two-hundred day moving average price of $32.17.

Insider Buying and Selling

In other Sweetgreen news, Director Bradley E. Singer sold 42,730 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $38.09, for a total value of $1,627,585.70. Following the completion of the transaction, the director now directly owns 139,052 shares in the company, valued at approximately $5,296,490.68. This represents a 23.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicolas Jammet sold 169,767 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the completion of the transaction, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $69,044,434.41. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,671 shares of company stock worth $18,138,774 in the last three months. 21.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky increased its position in Sweetgreen by 0.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 311,630 shares of the company’s stock valued at $11,048,000 after acquiring an additional 2,000 shares during the period. Geode Capital Management LLC increased its position in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after acquiring an additional 116,243 shares during the period. M&T Bank Corp increased its position in Sweetgreen by 22.0% in the 3rd quarter. M&T Bank Corp now owns 27,648 shares of the company’s stock valued at $980,000 after acquiring an additional 4,989 shares during the period. Pier Capital LLC increased its position in Sweetgreen by 0.3% in the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after acquiring an additional 761 shares during the period. Finally, XTX Topco Ltd acquired a new position in Sweetgreen in the 3rd quarter valued at approximately $277,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.