Vanguard Group Inc. Sells 169,091 Shares of Sweetgreen, Inc. $SG

Vanguard Group Inc. lowered its position in shares of Sweetgreen, Inc. (NYSE:SG) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,375,794 shares of the company’s stock after selling 169,091 shares during the period. Vanguard Group Inc. owned about 7.99% of Sweetgreen worth $234,582,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in Sweetgreen by 3.4% during the 1st quarter. Baillie Gifford & Co. now owns 11,707,090 shares of the company’s stock valued at $292,911,000 after buying an additional 386,141 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Sweetgreen by 53.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company’s stock worth $62,908,000 after purchasing an additional 874,942 shares during the period. Spyglass Capital Management LLC lifted its position in shares of Sweetgreen by 12.0% in the 4th quarter. Spyglass Capital Management LLC now owns 2,296,894 shares of the company’s stock worth $73,638,000 after purchasing an additional 246,283 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of Sweetgreen by 52.1% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,354,818 shares of the company’s stock worth $33,898,000 after purchasing an additional 464,013 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Sweetgreen by 189.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock worth $36,369,000 after purchasing an additional 743,157 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 1.0%

Shares of SG stock opened at $9.28 on Tuesday. The company has a 50 day moving average price of $12.89 and a 200-day moving average price of $18.17. Sweetgreen, Inc. has a 52 week low of $8.80 and a 52 week high of $45.12. The firm has a market capitalization of $1.10 billion, a PE ratio of -11.05 and a beta of 2.04.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%. The company had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, Director Clifford Burrows bought 19,200 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the transaction, the director owned 19,200 shares of the company’s stock, valued at $251,712. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SG shares. Bank of America dropped their target price on shares of Sweetgreen from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, July 18th. UBS Group lowered their price target on shares of Sweetgreen from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Sweetgreen from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. Oppenheimer lowered their price target on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Finally, TD Securities restated a “hold” rating and set a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.69.

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.