Sweetgreen’s (SG) Market Perform Rating Reiterated at William Blair

William Blair reaffirmed their market perform rating on shares of Sweetgreen (NYSE:SG) in a report issued on Friday, Marketbeat reports.

Several other research firms have also recently issued reports on SG. UBS Group lowered their price objective on Sweetgreen from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada lowered their price target on Sweetgreen from $25.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sweetgreen in a research note on Wednesday, October 8th. Barclays reduced their price target on Sweetgreen from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Finally, Zacks Research lowered shares of Sweetgreen from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and an average target price of $12.04.

Sweetgreen Trading Down 5.4%

SG stock traded down $0.32 during mid-day trading on Friday, reaching $5.47. The company’s stock had a trading volume of 2,790,690 shares, compared to its average volume of 5,115,292. The company’s 50 day moving average is $7.85 and its two-hundred day moving average is $11.54. The stock has a market cap of $646.02 million, a PE ratio of -5.63 and a beta of 1.94. Sweetgreen has a fifty-two week low of $5.20 and a fifty-two week high of $45.12.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, November 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Sweetgreen had a negative return on equity of 25.06% and a negative net margin of 16.55%.The business had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. During the same period last year, the business earned ($0.18) EPS. Sweetgreen’s revenue was down .6% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. On average, analysts forecast that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of Sweetgreen stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares in the company, valued at $2,967,368.29. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 19.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Sweetgreen in the 1st quarter valued at $378,000. Bank of New York Mellon Corp raised its holdings in Sweetgreen by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 308,247 shares of the company’s stock worth $7,712,000 after purchasing an additional 4,333 shares during the last quarter. Brown Advisory Inc. lifted its position in Sweetgreen by 6.7% during the 1st quarter. Brown Advisory Inc. now owns 118,560 shares of the company’s stock valued at $2,966,000 after purchasing an additional 7,395 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Sweetgreen by 352.0% in the 1st quarter. New York State Common Retirement Fund now owns 242,472 shares of the company’s stock valued at $6,067,000 after purchasing an additional 188,830 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its position in shares of Sweetgreen by 52.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,354,818 shares of the company’s stock worth $33,898,000 after buying an additional 464,013 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.