Sweetgreen (NYSE:SG) Earns Sector Weight Rating from Analysts at KeyCorp

KeyCorp started coverage on shares of Sweetgreen (NYSE:SG) in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage issued a sector weight rating on the stock. KeyCorp also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.79) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.59) EPS, Q1 2026 earnings at ($0.14) EPS, Q2 2026 earnings at $0.03 EPS, Q3 2026 earnings at ($0.07) EPS and FY2026 earnings at ($0.33) EPS.

A number of other research analysts have also recently commented on SG. UBS Group upped their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Oppenheimer boosted their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Finally, TD Cowen reissued a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have issued 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 Trading Down 8.7 %

Shares of SG stock opened at $34.47 on Wednesday. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -44.19 and a beta of 2.32. The company’s 50-day moving average price is $38.37 and its 200-day moving average price is $33.38.

Insider Buying and Selling

In related news, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares of the company’s stock, valued at $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mitch Reback sold 72,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the completion of the transaction, the chief financial officer now owns 43,901 shares in the company, valued at $1,658,140.77. This represents a 62.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 470,639 shares of company stock worth $18,379,124. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC lifted its stake in Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Sweetgreen during the 2nd quarter worth $33,449,000. Renaissance Technologies LLC acquired a new stake in Sweetgreen during the 2nd quarter worth $29,109,000. Baillie Gifford & Co. increased its stake in Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after purchasing an additional 721,740 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after buying an additional 547,816 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.