Sweetgreen (NYSE:SG) Coverage Initiated by Analysts at KeyCorp

KeyCorp started coverage on shares of Sweetgreen (NYSE:SG - Free Report) in a research note issued to investors on Wednesday, Marketbeat reports. The firm issued a sector weight rating on the stock.

Several other equities research analysts have also recently weighed in on SG. Oppenheimer increased their target price on Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen reiterated a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, 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 report on Monday, August 19th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.80.

Sweetgreen Stock Performance

SG traded up $2.21 during trading on Wednesday, reaching $38.81. The stock had a trading volume of 2,096,454 shares, compared to its average volume of 2,863,251. The business has a 50-day moving average of $38.20 and a 200-day moving average of $33.29. Sweetgreen has a one year low of $9.66 and a one year high of $45.12. The stock has a market cap of $4.49 billion, a PE ratio of -46.92 and a beta of 2.32.

Insider Activity at Sweetgreen

In other news, CTO Wouleta Ayele sold 4,347 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $148,015.35. Following the sale, the chief technology officer now directly owns 140,302 shares of the company's stock, valued at $4,777,283.10. The trade was a 3.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 1,010 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,228,422.28. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,934 shares of company stock worth $19,722,939 over the last ninety days. 21.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Several large investors have recently modified their holdings of SG. Hollencrest Capital Management purchased a new stake in Sweetgreen during the 3rd quarter valued at $35,000. Quest Partners LLC bought a new stake in Sweetgreen in the 2nd quarter worth about $76,000. KBC Group NV raised its position in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock worth $111,000 after buying an additional 704 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at about $155,000. Finally, Canton Hathaway LLC bought a new stake in shares of Sweetgreen in the third quarter worth approximately $177,000. Hedge funds and other 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.