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

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

Other research analysts have also recently issued reports about the stock. Oppenheimer reduced their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group raised their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

Sweetgreen Stock Performance

Shares of SG stock opened at $30.53 on Tuesday. The stock has a market cap of $3.53 billion, a PE ratio of -39.14 and a beta of 2.38. Sweetgreen has a 1 year low of $10.09 and a 1 year high of $45.12. The stock has a fifty day moving average price of $35.77 and a 200 day moving average price of $33.88.

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

Insiders Place Their Bets

In related news, insider Nathaniel Ru sold 1,263 shares of Sweetgreen stock in a transaction on 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 owns 1,952,129 shares of the company’s stock, valued at approximately $78,104,681.29. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the transaction, the chief financial officer now directly owns 350,981 shares in the company, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 648,838 shares of company stock worth $25,065,773 over the last ninety days. 21.52% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new stake in shares of Sweetgreen in the 3rd quarter worth approximately $35,000. KBC Group NV raised its position in Sweetgreen by 29.1% in 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 during the last quarter. Sachetta LLC raised its stake in shares of Sweetgreen by 37.6% in the fourth 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 boosted its position in Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after buying an additional 1,728 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Sweetgreen during the third quarter worth $155,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.