TD Cowen Reaffirms Buy Rating for Sweetgreen (NYSE:SG)

TD Cowen restated their buy rating on shares of Sweetgreen (NYSE:SG) in a research report released on Monday,Benzinga reports. The firm currently has a $45.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer increased their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Bank of America increased their target price 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. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Finally, Morgan Stanley increased their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Up 0.1 %

SG opened at $37.91 on Monday. Sweetgreen has a twelve month low of $9.21 and a twelve month high of $42.77. The company has a fifty day moving average of $36.62 and a 200-day moving average of $32.17. The stock has a market cap of $4.39 billion, a PE ratio of -48.60 and a beta of 2.32.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicolas Jammet sold 169,767 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,565.59. Following the completion of the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $69,044,434.41. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 503,671 shares of company stock valued at $18,138,774. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of large investors have recently added to or reduced their stakes in SG. Swiss National Bank increased its holdings in Sweetgreen by 0.9% during the first quarter. Swiss National Bank now owns 176,600 shares of the company’s stock worth $4,461,000 after buying an additional 1,500 shares during the last quarter. Sei Investments Co. purchased a new stake in Sweetgreen during the first quarter worth about $1,110,000. ProShare Advisors LLC increased its holdings in Sweetgreen by 9.9% during the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock worth $444,000 after buying an additional 1,585 shares during the last quarter. Blair William & Co. IL increased its holdings in Sweetgreen by 26.8% during the first quarter. Blair William & Co. IL now owns 13,140 shares of the company’s stock worth $332,000 after buying an additional 2,774 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Sweetgreen by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after buying an additional 70,395 shares during the last quarter. 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.