Captrust Financial Advisors Takes Position in Sweetgreen, Inc. (NYSE:SG)

Captrust Financial Advisors acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,100 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $1,122,000. Bank of America Corp DE increased its stake in shares of Sweetgreen by 46.0% in the fourth quarter. Bank of America Corp DE now owns 883,157 shares of the company’s stock worth $28,314,000 after buying an additional 278,305 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Sweetgreen in the fourth quarter worth $739,000. Comerica Bank increased its stake in shares of Sweetgreen by 278.0% in the fourth quarter. Comerica Bank now owns 134,557 shares of the company’s stock worth $4,314,000 after buying an additional 98,956 shares during the last quarter. Finally, PDT Partners LLC increased its stake in shares of Sweetgreen by 3.9% in the fourth quarter. PDT Partners LLC now owns 102,665 shares of the company’s stock worth $3,291,000 after buying an additional 3,862 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

SG has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their price target on shares of Sweetgreen from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Citigroup dropped their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. TD Securities restated a “buy” rating and issued a $25.00 price target on shares of Sweetgreen in a research note on Thursday, May 15th. Piper Sandler dropped their price target on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Morgan Stanley dropped their price target on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 10,088 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer now owns 334,421 shares in the company, valued at approximately $5,093,231.83. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nathaniel Ru sold 2,123 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $50,527.40. Following the transaction, the director now owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. This represents a 0.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,014 shares of company stock worth $736,283. Insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Sweetgreen stock opened at $12.86 on Thursday. The company has a market cap of $1.51 billion, a PE ratio of -16.48 and a beta of 2.31. The company has a fifty day moving average price of $20.27 and a two-hundred day moving average price of $28.25. Sweetgreen, Inc. has a 12 month low of $12.81 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

About Sweetgreen

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.