Citigroup Lowers Sweetgreen (NYSE:SG) Price Target to $43.00

Sweetgreen (NYSE:SG) had its price target decreased by equities researchers at Citigroup from $49.00 to $43.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 57.86% from the company’s current price.

Several other equities analysts have also recently issued reports on SG. KeyCorp began coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Oppenheimer decreased their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Morgan Stanley decreased their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Finally, UBS Group boosted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.60.

Sweetgreen Stock Performance

Shares of SG opened at $27.24 on Wednesday. The stock has a market capitalization of $3.15 billion, a P/E ratio of -34.92 and a beta of 2.37. The company’s fifty day moving average is $32.78 and its two-hundred day moving average is $34.40. Sweetgreen has a 1 year low of $10.93 and a 1 year high of $45.12.

Insider Buying and Selling

In other news, insider Nicolas Jammet sold 170,199 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the transaction, the insider now owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This represents a 8.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the transaction, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,607 shares of company stock worth $23,177,393 in the last three months. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its holdings in Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares during the period. Hollencrest Capital Management purchased a new position in Sweetgreen in the 3rd quarter worth approximately $35,000. Headlands Technologies LLC boosted its holdings in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares during the period. Millstone Evans Group LLC purchased a new position in Sweetgreen in the 4th quarter worth approximately $53,000. Finally, Denver PWM LLC purchased a new position in Sweetgreen in the 4th quarter worth approximately $60,000. Institutional investors and hedge funds 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.