Ensign Peak Advisors Inc Takes $918,000 Position in Sweetgreen, Inc. (NYSE:SG)

Ensign Peak Advisors Inc purchased a new stake in Sweetgreen, Inc. (NYSE:SG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,450 shares of the company’s stock, valued at approximately $918,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SG. Charles Schwab Investment Management Inc. increased its stake in shares of Sweetgreen by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock valued at $8,264,000 after buying an additional 15,463 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sweetgreen by 38.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Sweetgreen during the 4th quarter valued at about $718,000. Armistice Capital LLC bought a new stake in shares of Sweetgreen during the 4th quarter valued at about $1,412,000. Finally, Teca Partners LP bought a new stake in shares of Sweetgreen during the 4th quarter valued at about $8,475,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Up 2.9 %

SG stock opened at $35.95 on Friday. Sweetgreen, Inc. has a twelve month low of $8.64 and a twelve month high of $38.53. The stock’s 50 day moving average is $31.52 and its 200-day moving average is $28.46. The firm has a market capitalization of $4.10 billion, a PE ratio of -38.66 and a beta of 2.32.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter in the prior year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SG shares. TD Cowen restated a “buy” rating and set a $43.00 target price on shares of Sweetgreen in a research report on Friday. Oppenheimer upped their target price on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Bank of America upped their target price on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Citigroup upped their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, UBS Group increased their price target on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Insider Activity

In other news, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.61, for a total value of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at $13,881,816.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.61, for a total value of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at $13,881,816.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The disclosure for this sale can be found here. Insiders have sold 426,061 shares of company stock worth $15,071,720 over the last 90 days. 21.52% of the stock is currently owned by corporate insiders.

Sweetgreen 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.