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 note released on Tuesday morning,Benzinga reports. The firm currently has a $45.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. 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. UBS Group increased 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. Morgan Stanley decreased their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. 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. Finally, KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Sweetgreen Trading Down 1.2 %

NYSE SG opened at $22.34 on Tuesday. The stock has a market cap of $2.58 billion, a PE ratio of -28.64 and a beta of 2.37. Sweetgreen has a twelve month low of $11.21 and a twelve month high of $45.12. The stock has a fifty day simple moving average of $30.67 and a 200-day simple moving average of $34.32.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 41,999 shares of the stock in a transaction dated 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 sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $74,661,412.44. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mitch Reback sold 10,926 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,817 shares of company stock valued at $19,677,637 in the last quarter. Corporate insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Sweetgreen in the 3rd quarter valued at about $35,000. Headlands Technologies LLC increased its holdings in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after acquiring an additional 741 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after acquiring an additional 494 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Sweetgreen in the 4th quarter valued at about $53,000. 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.