Sweetgreen (NYSE:SG) Given New $39.00 Price Target at Citigroup

Sweetgreen (NYSE:SG) had its price objective reduced by Citigroup from $43.00 to $39.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday. KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Oppenheimer reduced their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Up 0.4 %

Shares of SG stock opened at $23.23 on Thursday. The firm has a 50 day moving average of $30.24 and a 200-day moving average of $34.17. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -29.78 and a beta of 2.37. Sweetgreen has a 52 week low of $11.84 and a 52 week high of $45.12.

Insiders Place Their Bets

In other Sweetgreen news, 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 owns 344,055 shares in the company, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicolas Jammet sold 41,999 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 1,930,233 shares in the company, valued at $74,661,412.44. The trade was a 2.13 % 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 three months. 21.52% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new position in Sweetgreen in the 4th quarter valued at $52,558,000. Invesco Ltd. grew its position in Sweetgreen by 40.9% during the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after buying an additional 1,601,666 shares during the period. Wellington Management Group LLP increased its holdings in Sweetgreen by 30.1% during the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after buying an additional 1,025,341 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Sweetgreen by 189.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock worth $36,369,000 after acquiring an additional 743,157 shares during the period. Finally, Voya Investment Management LLC raised its position in Sweetgreen by 848.5% in the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock worth $24,000,000 after acquiring an additional 669,657 shares during the period. 95.75% of the stock is currently owned by institutional investors.

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.