Rhumbline Advisers Has $3.62 Million Position in Sweetgreen, Inc. $SG

Rhumbline Advisers lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,722 shares of the company’s stock after acquiring an additional 6,720 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Sweetgreen worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SG. Spire Wealth Management lifted its stake in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock valued at $50,000 after buying an additional 635 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Sweetgreen in the first quarter valued at approximately $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in shares of Sweetgreen by 70.8% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock valued at $103,000 after purchasing an additional 1,700 shares in the last quarter. State of Wyoming increased its holdings in shares of Sweetgreen by 98.1% in the fourth quarter. State of Wyoming now owns 5,534 shares of the company’s stock valued at $177,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Sweetgreen in the fourth quarter valued at approximately $228,000. 95.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares of the company’s stock, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.78% of the company’s stock.

Sweetgreen Trading Down 1.1%

Shares of NYSE:SG opened at $8.40 on Tuesday. Sweetgreen, Inc. has a 12 month low of $8.11 and a 12 month high of $45.12. The stock has a market cap of $992.96 million, a P/E ratio of -10.00 and a beta of 2.01. The company has a 50 day moving average of $11.12 and a 200 day moving average of $15.71.

Sweetgreen (NYSE:SG) last released 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 analysts’ expectations of $193.47 million. During the same period in the prior year, the firm earned ($0.13) EPS. Sweetgreen’s quarterly revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen cut their price objective on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company restated an “overweight” rating and set a $19.00 target price on shares of Sweetgreen in a research report on Tuesday, July 1st. TD Securities reissued a “hold” rating and issued a $15.00 price objective (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. UBS Group lowered their target price on shares of Sweetgreen from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Morgan Stanley reduced their price objective on shares of Sweetgreen from $22.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently 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.