Sweetgreen, Inc. $SG Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 835,874 shares of the company’s stock after selling 13,638 shares during the period. Charles Schwab Investment Management Inc. owned 0.71% of Sweetgreen worth $20,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in shares of Sweetgreen by 50.8% in the first quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company’s stock worth $332,000 after acquiring an additional 4,474 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company’s stock worth $403,000 after acquiring an additional 4,474 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Sweetgreen by 4.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company’s stock worth $936,000 after acquiring an additional 1,278 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Sweetgreen by 54.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company’s stock valued at $523,000 after acquiring an additional 5,783 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Sweetgreen by 352.0% during the first quarter. New York State Common Retirement Fund now owns 242,472 shares of the company’s stock valued at $6,067,000 after buying an additional 188,830 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

SG has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Sweetgreen from $22.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, July 14th. Barclays lowered their price target on Sweetgreen from $17.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. TD Securities reaffirmed a “hold” rating and issued a $15.00 price target (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lowered their price objective on Sweetgreen from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 25th. Finally, The Goldman Sachs Group lowered their price target on Sweetgreen from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 4th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.69.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 11,530 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares in the company, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.78% of the stock is currently owned by corporate insiders.

Sweetgreen Price Performance

SG opened at $8.9450 on Friday. Sweetgreen, Inc. has a 1 year low of $8.45 and a 1 year high of $45.12. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -10.65 and a beta of 2.04. The business’s 50-day moving average price is $12.64 and its two-hundred day moving average price is $17.88.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $193.47 million. During the same quarter in the previous year, the company posted ($0.13) EPS. The business’s revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

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.