316,994 Shares in Sweetgreen, Inc. $SG Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC bought a new stake in Sweetgreen, Inc. (NYSE:SG) during the 3rd quarter, HoldingsChannel reports. The fund bought 316,994 shares of the company’s stock, valued at approximately $2,530,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SG. Teacher Retirement System of Texas boosted its position in shares of Sweetgreen by 5.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock worth $238,000 after acquiring an additional 877 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after purchasing an additional 1,055 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Sweetgreen by 5.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock valued at $345,000 after purchasing an additional 1,209 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in shares of Sweetgreen by 4.9% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock valued at $594,000 after purchasing an additional 1,870 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc acquired a new position in shares of Sweetgreen during the 2nd quarter worth $30,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays raised their price objective on Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Oppenheimer set a $10.00 price objective on Sweetgreen in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and set a $8.00 price target on shares of Sweetgreen in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.76.

Sweetgreen Price Performance

NYSE SG opened at $5.40 on Tuesday. The stock has a market capitalization of $639.55 million, a P/E ratio of -5.57 and a beta of 1.92. The business has a 50 day simple moving average of $6.62 and a 200 day simple moving average of $7.32. Sweetgreen, Inc. has a one year low of $4.99 and a one year high of $27.15.

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.