What is KeyCorp’s Estimate for Sweetgreen FY2024 Earnings?

Sweetgreen, Inc. (NYSE:SG) – Research analysts at KeyCorp issued their FY2024 EPS estimates for shares of Sweetgreen in a report released on Tuesday, December 10th. KeyCorp analyst E. Gonzalez forecasts that the company will post earnings per share of ($0.79) for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sweetgreen’s current full-year earnings is ($0.73) per share. KeyCorp also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) 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.

SG has been the subject of a number of other reports. Bank of America increased their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Finally, UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Five research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Trading Down 2.8 %

SG stock opened at $37.73 on Friday. Sweetgreen has a 1-year low of $9.66 and a 1-year high of $45.12. The business’s 50-day moving average price is $38.36 and its two-hundred day moving average price is $33.36.

Insiders Place Their Bets

In related news, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the transaction, the chief technology officer now directly owns 140,302 shares of the company’s stock, valued at $4,777,283.10. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Neman sold 1,010 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 470,639 shares of company stock valued at $18,379,124 over the last three months. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently added to or reduced their stakes in SG. Franklin Resources Inc. boosted its holdings in shares of Sweetgreen by 1,399.0% in the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock worth $4,365,000 after buying an additional 103,664 shares during the last quarter. Tidal Investments LLC grew its position in shares of Sweetgreen by 848.2% during the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after acquiring an additional 241,652 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Sweetgreen by 0.6% during 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 stake in shares of Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after purchasing an additional 116,243 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Sweetgreen by 22.0% in the 3rd quarter. M&T Bank Corp now owns 27,648 shares of the company’s stock worth $980,000 after purchasing an additional 4,989 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.