Amundi Has $7.37 Million Holdings in Sweetgreen, Inc. $SG

Amundi grew its stake in Sweetgreen, Inc. (NYSE:SG) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,702 shares of the company’s stock after purchasing an additional 11,992 shares during the period. Amundi owned about 0.25% of Sweetgreen worth $7,373,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. PDT Partners LLC lifted its holdings in Sweetgreen by 148.3% during the 1st quarter. PDT Partners LLC now owns 254,877 shares of the company’s stock valued at $6,377,000 after purchasing an additional 152,212 shares during the last quarter. Durable Capital Partners LP grew its position in shares of Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock worth $113,218,000 after buying an additional 1,030,176 shares during the period. Maverick Capital Ltd. bought a new stake in Sweetgreen in the first quarter valued at approximately $6,425,000. Royal Bank of Canada increased its stake in Sweetgreen by 22.4% in the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock valued at $7,292,000 after purchasing an additional 53,427 shares in the last quarter. Finally, Graham Capital Management L.P. boosted its holdings in shares of Sweetgreen by 24.7% in the first quarter. Graham Capital Management L.P. now owns 129,793 shares of the company’s stock valued at $3,247,000 after buying an additional 25,671 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the 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 sale, the chief financial officer directly owned 322,891 shares of the company’s stock, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 19.78% of the company’s stock.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $8.71 on Thursday. The company’s 50-day moving average is $11.46 and its 200 day moving average is $16.11. The company has a market capitalization of $1.03 billion, a P/E ratio of -10.36 and a beta of 2.01. Sweetgreen, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $45.12.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The company had revenue of $185.58 million during the quarter, compared to analysts’ expectations of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.Sweetgreen’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. As a group, research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SG shares. William Blair restated an “outperform” rating on shares of Sweetgreen in a report on Friday, September 5th. Royal Bank Of Canada lowered their price target on shares of Sweetgreen from $25.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. TD Cowen reduced their price objective on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 8th. The Goldman Sachs Group decreased their price target on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 4th. Finally, Morgan Stanley cut their target price on shares of Sweetgreen from $22.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.69.

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.