Bessemer Group Inc. Has $422,000 Stock Holdings in Sweetgreen, Inc. $SG

Bessemer Group Inc. lifted its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 40.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,378 shares of the company’s stock after buying an additional 8,130 shares during the period. Bessemer Group Inc.’s holdings in Sweetgreen were worth $422,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SG. Teacher Retirement System of Texas acquired a new position in shares of Sweetgreen during the 1st quarter worth about $378,000. GF Fund Management CO. LTD. acquired a new position in shares of Sweetgreen during the 1st quarter worth about $71,000. Bank of New York Mellon Corp boosted its stake in shares of Sweetgreen by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 308,247 shares of the company’s stock worth $7,712,000 after buying an additional 4,333 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Sweetgreen by 6.7% during the 1st quarter. Brown Advisory Inc. now owns 118,560 shares of the company’s stock worth $2,966,000 after buying an additional 7,395 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Sweetgreen by 352.0% during the 1st quarter. New York State Common Retirement Fund now owns 242,472 shares of the company’s stock worth $6,067,000 after buying an additional 188,830 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SG shares. TD Cowen reduced their price objective on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Wells Fargo & Company dropped their target price on shares of Sweetgreen from $19.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Bank of America reaffirmed a “neutral” rating and issued a $9.50 target price (down from $18.00) on shares of Sweetgreen in a report on Monday, October 6th. Zacks Research cut shares of Sweetgreen from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sweetgreen in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.04.

Sweetgreen Stock Up 0.4%

Sweetgreen stock opened at $6.30 on Monday. The stock has a market cap of $744.25 million, a P/E ratio of -7.50 and a beta of 1.94. Sweetgreen, Inc. has a twelve month low of $6.19 and a twelve month high of $45.12. The company’s 50-day moving average price is $8.13 and its two-hundred day moving average price is $11.95.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share 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 firm’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. Equities analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sweetgreen 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 transaction, the chief financial officer directly owned 322,891 shares of the company’s stock, valued at $2,967,368.29. This represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.78% of the stock is currently owned by corporate insiders.

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.