Blair William & Co. IL Sells 605,883 Shares of Sweetgreen, Inc. $SG

Blair William & Co. IL lowered its stake in Sweetgreen, Inc. (NYSE:SG) by 52.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 551,522 shares of the company’s stock after selling 605,883 shares during the period. Blair William & Co. IL owned approximately 0.47% of Sweetgreen worth $4,401,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. RPG Investment Advisory LLC increased its position in Sweetgreen by 33.2% during the 3rd quarter. RPG Investment Advisory LLC now owns 616,191 shares of the company’s stock worth $4,916,000 after buying an additional 153,525 shares during the period. Greenhouse Funds LLLP acquired a new position in shares of Sweetgreen in the second quarter valued at about $32,122,000. Spyglass Capital Management LLC increased its position in Sweetgreen by 15.2% during the second quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock worth $58,029,000 after acquiring an additional 513,643 shares during the period. Citigroup Inc. raised its stake in Sweetgreen by 75.8% in the 3rd quarter. Citigroup Inc. now owns 531,171 shares of the company’s stock worth $4,239,000 after purchasing an additional 228,961 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Sweetgreen in the 3rd quarter valued at about $4,527,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wolfe Research assumed coverage on Sweetgreen in a research report on Monday. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. raised their price target on Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a research note on Wednesday, January 7th. DA Davidson started coverage on shares of Sweetgreen in a research note on Friday, March 6th. They issued a “neutral” rating and a $5.50 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.22.

Sweetgreen Stock Performance

Shares of SG opened at $5.62 on Thursday. Sweetgreen, Inc. has a 52 week low of $4.99 and a 52 week high of $27.15. The stock has a market capitalization of $664.65 million, a price-to-earnings ratio of -4.93 and a beta of 1.93. The stock has a fifty day moving average of $6.34 and a 200-day moving average of $7.02.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The firm had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.25) EPS. As a group, equities analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet acquired 4,428 shares of the stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $5.71 per share, with a total value of $25,283.88. Following the completion of the purchase, the insider directly owned 22,543 shares of the company’s stock, valued at $128,720.53. This represents a 24.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.78% of the company’s stock.

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.