TD Cowen Reiterates "Buy" Rating for Sweetgreen (NYSE:SG)

TD Cowen reiterated their buy rating on shares of Sweetgreen (NYSE:SG - Free Report) in a report issued on Monday morning,Benzinga reports. TD Cowen currently has a $45.00 target price on the stock.

Several other equities analysts also recently weighed in on SG. Morgan Stanley boosted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, August 9th. The Goldman Sachs Group restated a "neutral" rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Oppenheimer increased their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, UBS Group increased their target price 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. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of "Moderate Buy" and an average target price of $39.80.

Sweetgreen Price Performance

Sweetgreen stock traded up $0.32 during mid-day trading on Monday, reaching $33.83. 2,485,615 shares of the stock traded hands, compared to its average volume of 2,879,502. Sweetgreen has a 12-month low of $9.21 and a 12-month high of $42.77. The stock has a market capitalization of $3.86 billion, a PE ratio of -42.96 and a beta of 2.32. The business's 50-day moving average is $36.25 and its 200-day moving average is $31.93.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 9,497 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.40, for a total value of $317,199.80. Following the sale, the chief financial officer now owns 369,684 shares of the company's stock, valued at $12,347,445.60. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jonathan Neman sold 169,772 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at $69,044,255.56. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 457,437 shares of company stock valued at $16,381,658 in the last ninety days. Corporate insiders own 21.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SG. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen during the second quarter worth approximately $76,000. KBC Group NV grew its stake in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after acquiring an additional 704 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sweetgreen during the 3rd quarter worth $155,000. Finally, Canton Hathaway LLC acquired a new position in shares of Sweetgreen during the third quarter worth $177,000. 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.