Nuveen Asset Management LLC Has $16.51 Million Stock Position in Sweetgreen, Inc. (NYSE:SG)

Nuveen Asset Management LLC reduced its stake in Sweetgreen, Inc. (NYSE:SG) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,888 shares of the company’s stock after selling 119,549 shares during the quarter. Nuveen Asset Management LLC owned 0.45% of Sweetgreen worth $16,507,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SG. FMR LLC grew its stake in Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after buying an additional 329,789 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Sweetgreen by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after acquiring an additional 351,240 shares in the last quarter. Invesco Ltd. boosted its position in Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after buying an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP boosted its position in Sweetgreen by 30.1% in the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock valued at $142,106,000 after buying an additional 1,025,341 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Sweetgreen by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 2,281,671 shares of the company’s stock valued at $73,167,000 after buying an additional 32,262 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Stock Performance

Shares of Sweetgreen stock opened at $12.81 on Monday. The company has a market capitalization of $1.50 billion, a PE ratio of -16.42 and a beta of 2.31. The company has a 50-day simple moving average of $19.83 and a two-hundred day simple moving average of $27.70. Sweetgreen, Inc. has a one year low of $12.37 and a one year high of $45.12.

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

Insiders Place Their Bets

In other news, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the transaction, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. This trade represents a 0.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rossann Williams sold 4,977 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares in the company, valued at $2,273,280.80. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,014 shares of company stock valued at $736,283 in the last three months. 21.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SG shares. UBS Group dropped their price target on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Citigroup lowered their target price 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. Oppenheimer decreased their price target on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered their price target on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Sweetgreen currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.