Sweetgreen Inc (NYSE: SG) stock fell -0.30% on Friday to $9.84 against a previous-day closing price of $9.87. With 1.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.48 million shares. The 52-week range on SG shows that it touched its highest point at $16.58 and its lowest point at $6.10 during that stretch. It currently has a 1-year price target of $14.12. Beta for the stock currently stands at 1.88.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SG was up-trending over the past week, with a rise of 10.31%, but this was down by -9.89% over a month. Three-month performance dropped to -30.01% while six-month performance rose 3.80%. The stock lost -29.36% in the past year, while it has gained 14.82% so far this year. A look at the trailing 12-month EPS for SG yields -1.26 with Next year EPS estimates of -0.77. For the next quarter, that number is -0.28. This implies an EPS growth rate of 40.84% for this year and 24.46% for next year.
Float and Shares Shorts:
At present, 97.66 million SG shares are outstanding with a float of 89.09 million shares on hand for trading. On Oct 30, 2023, short shares totaled 12.41 million, which was 11.04% higher than short shares on Sep 28, 2023. In addition to Mr. Jonathan Neman as the firm’s Co-Founder, Chairman, President & CEO, Mr. Nicolas H. Jammet serves as its Co-Founder, Secretary, Chief Concept Officer & Director.
Institutional Ownership:
Other institutions hold 7.81% of SG, in contrast to 52.15% held by mutual funds. Shares owned by individuals account for 31.18%. As the largest shareholder in SG with 14.26% of the stake, Fidelity Management & Research Co holds 14,082,383 shares worth 14,082,383. A second-largest stockholder of SG, Baillie Gifford & Co., holds 12,009,929 shares, controlling over 12.16% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SG, holding 7,889,215 shares or 7.99% stake. With a 7.07% stake in SG, the Fidelity Blue Chip Growth Fund is the largest stakeholder. A total of 6,977,717 shares are owned by the mutual fund manager. The Vanguard US Growth Fund, which owns about 5.97% of SG stock, is the second-largest Mutual Fund holder. It holds 5,895,814 shares valued at 60.9 million. Baillie Gifford Overseas Growth F holds 2.95% of the stake in SG, owning 2,916,000 shares worth 30.12 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SG analysts setting a high price target of $16.00 and a low target of $12.00, the average target price over the next 12 months is $14.13. Based on these targets, SG could surge 62.6% to reach the target high and rise by 21.95% to reach the target low. Reaching the average price target will result in a growth of 43.6% from current levels.
Summary of Insider Activity:
Insiders traded SG stock several times over the past three months with 2 Buys and 5 Sells. In these transactions, 121,091 shares were bought while 150,814 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 759,473 while 732,673 shares were sold.
