Sweetgreen, Inc. $SG Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its stake in Sweetgreen, Inc. (NYSE:SG) by 75.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531,171 shares of the company’s stock after purchasing an additional 228,961 shares during the quarter. Citigroup Inc. owned about 0.45% of Sweetgreen worth $4,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SG. Greenhouse Funds LLLP acquired a new stake in shares of Sweetgreen in the second quarter valued at about $32,122,000. Federated Hermes Inc. acquired a new stake in Sweetgreen in the third quarter valued at approximately $4,527,000. Spyglass Capital Management LLC raised its stake in shares of Sweetgreen by 15.2% during the second quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after purchasing an additional 513,643 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Sweetgreen by 6,495.2% during the second quarter. BNP Paribas Financial Markets now owns 496,616 shares of the company’s stock worth $7,390,000 after purchasing an additional 489,086 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in shares of Sweetgreen by 32.0% during the second quarter. Champlain Investment Partners LLC now owns 1,664,750 shares of the company’s stock worth $24,771,000 after purchasing an additional 403,458 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 3.6%

SG opened at $5.52 on Thursday. The company’s 50-day moving average price is $6.45 and its 200 day moving average price is $7.14. Sweetgreen, Inc. has a fifty-two week low of $4.99 and a fifty-two week high of $27.15. The firm has a market cap of $653.40 million, a price-to-earnings ratio of -4.84 and a beta of 1.93.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The company had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company posted ($0.25) earnings per share. Research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analysts Set New Price Targets

SG has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. JPMorgan Chase & Co. raised their target price on Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. William Blair reiterated a “market perform” rating on shares of Sweetgreen in a research note on Friday, November 7th. Zacks Research upgraded Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Sanford C. Bernstein set a $7.00 price objective on Sweetgreen in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Sweetgreen has an average rating of “Hold” and a consensus target price of $8.43.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.