TD Securities Issues Pessimistic Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its target price reduced by investment analysts at TD Securities from $45.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 40.80% from the company’s current price.

A number of other equities analysts have also commented on SG. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Tuesday. Oppenheimer cut their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley decreased their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Citigroup cut their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, TD Cowen reaffirmed a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.18.

Sweetgreen Stock Up 4.6 %

NYSE SG opened at $23.44 on Thursday. The company’s 50 day moving average is $30.47 and its 200-day moving average is $34.25. The firm has a market cap of $2.71 billion, a P/E ratio of -30.05 and a beta of 2.37. Sweetgreen has a 12-month low of $11.31 and a 12-month high of $45.12.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Nathaniel Ru sold 53,718 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $38.70, for a total value of $2,078,886.60. Following the completion of the sale, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $75,547,392.30. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet sold 41,999 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $74,661,412.44. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 516,817 shares of company stock worth $19,677,637. 21.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning increased its stake in Sweetgreen by 61.7% in the 3rd quarter. Creative Planning now owns 11,439 shares of the company’s stock worth $406,000 after purchasing an additional 4,364 shares during the period. Wealth Enhancement Advisory Services LLC grew 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 purchasing an additional 537 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Sweetgreen by 139.9% in 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. Optas LLC raised its holdings in Sweetgreen by 9.1% during the 3rd quarter. Optas LLC now owns 16,778 shares of the company’s stock valued at $595,000 after buying an additional 1,395 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Sweetgreen by 670.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock valued at $5,085,000 after buying an additional 124,813 shares during the period. 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.