Intech Investment Management LLC Acquires 20,885 Shares of Sweetgreen, Inc. $SG

Intech Investment Management LLC boosted its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 38.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,756 shares of the company’s stock after acquiring an additional 20,885 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Sweetgreen worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SG. Spire Wealth Management lifted its holdings 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 in the last quarter. GF Fund Management CO. LTD. bought a new position in Sweetgreen during the first quarter worth about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after acquiring an additional 1,700 shares in the last quarter. State of Wyoming lifted its holdings in Sweetgreen by 98.1% during the fourth quarter. State of Wyoming now owns 5,534 shares of the company’s stock worth $177,000 after acquiring an additional 2,741 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Sweetgreen during the fourth quarter worth about $228,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Trading Up 5.4%

Shares of SG stock opened at $8.85 on Wednesday. The stock has a market cap of $1.05 billion, a P/E ratio of -10.54 and a beta of 2.01. The stock has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $15.66. Sweetgreen, Inc. has a 1 year low of $8.11 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. Analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Activity

In related news, CFO Mitch Reback sold 11,530 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was 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 directly owned 322,891 shares in the company, valued at approximately $2,967,368.29. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 19.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SG. The Goldman Sachs Group cut their price target on Sweetgreen from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 4th. Piper Sandler cut their price target on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. TD Securities restated a “hold” rating and issued a $15.00 price target (down from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. Bank of America cut their price target on Sweetgreen from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Finally, Morgan Stanley cut their price target on Sweetgreen from $22.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, July 14th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus 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.