Sweetgreen (NYSE:SG) Earns Buy Rating from TD Cowen

Sweetgreen (NYSE:SG)‘s stock had its “buy” rating reiterated by equities research analysts at TD Cowen in a research report issued on Monday,Benzinga reports. They currently have a $45.00 price objective on the stock. TD Cowen’s price target points to a potential upside of 34.29% from the stock’s current price.

SG has been the subject of several other research reports. Bank of America raised their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Oppenheimer boosted their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, Morgan Stanley lifted their price objective on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Stock Performance

NYSE:SG opened at $33.51 on Monday. The firm has a market cap of $3.82 billion, a P/E ratio of -42.96 and a beta of 2.32. Sweetgreen has a fifty-two week low of $9.21 and a fifty-two week high of $42.77. The firm has a 50-day simple moving average of $36.25 and a two-hundred day simple moving average of $31.93.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 16,751 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total transaction of $670,710.04. Following the completion of the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $77,286,529.32. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adrienne Gemperle sold 6,225 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.40, for a total value of $207,915.00. Following the completion of the transaction, the insider now directly owns 112,685 shares in the company, valued at approximately $3,763,679. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 457,437 shares of company stock valued at $16,381,658. 21.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Hollencrest Capital Management bought a new stake in Sweetgreen during the third quarter valued at about $35,000. Quest Partners LLC bought a new stake in Sweetgreen during the 2nd quarter valued at approximately $76,000. KBC Group NV lifted its holdings in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Sweetgreen in the 3rd quarter worth approximately $155,000. Finally, Canton Hathaway LLC bought a new position in Sweetgreen in the 3rd quarter worth approximately $177,000. 95.75% of the stock is owned by hedge funds and other 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.