Sweetgreen’s (SG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Sweetgreen (NYSE:SG) in a research report report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $45.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen reissued a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Citigroup decreased their target price on Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Morgan Stanley lowered their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Price Performance

Shares of NYSE SG opened at $23.23 on Tuesday. Sweetgreen has a 1 year low of $11.84 and a 1 year high of $45.12. The firm has a fifty day moving average price of $30.24 and a 200-day moving average price of $34.17. The stock has a market cap of $2.69 billion, a PE ratio of -29.78 and a beta of 2.37.

Insider Buying and Selling at Sweetgreen

In related news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the sale, the chief financial officer now owns 344,055 shares in the company, valued at approximately $9,093,373.65. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Jammet sold 41,999 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.68, for a total value of $1,624,521.32. Following the completion of the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $74,661,412.44. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 516,817 shares of company stock worth $19,677,637 over the last 90 days. 21.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in SG. Summit Investment Advisors Inc. grew its holdings in Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock valued at $336,000 after purchasing an additional 473 shares during the last quarter. Cypress Wealth Services LLC boosted its position in shares of Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after buying an additional 483 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after buying an additional 537 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock worth $1,608,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors 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.