15,104 Shares in Sweetgreen, Inc. (NYSE:SG) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,104 shares of the company’s stock, valued at approximately $378,000.

A number of other large investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its stake in shares of 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. Headlands Technologies LLC lifted its stake in shares of Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $53,000. Finally, Spire Wealth Management raised its position in Sweetgreen by 47.1% during the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after acquiring an additional 635 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Up 4.3%

SG stock opened at $13.63 on Friday. Sweetgreen, Inc. has a 12 month low of $11.86 and a 12 month high of $45.12. The firm has a market cap of $1.60 billion, a P/E ratio of -17.70 and a beta of 2.06. The company’s 50-day moving average price is $13.68 and its two-hundred day moving average price is $21.38.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned ($0.23) EPS. Equities analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 10,088 shares of Sweetgreen 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 directly owned 334,421 shares in the company, valued at $5,093,231.83. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clifford Burrows bought 19,200 shares of the stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $13.11 per share, with a total value of $251,712.00. Following the acquisition, the director owned 19,200 shares of the company’s stock, valued at $251,712. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.52% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SG. Piper Sandler cut their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. TD Cowen reiterated a “hold” rating and set a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their target price on shares of Sweetgreen from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, June 25th. The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, June 4th. Finally, Oppenheimer cut their price target on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Sweetgreen has an average rating of “Hold” and a consensus target price of $24.92.

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.