Vanguard Group Inc. Buys 129,572 Shares of Sweetgreen, Inc. $SG

Vanguard Group Inc. raised its position in shares of Sweetgreen, Inc. (NYSE:SG) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,593,744 shares of the company’s stock after purchasing an additional 129,572 shares during the period. Vanguard Group Inc. owned 8.12% of Sweetgreen worth $76,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Sweetgreen by 98.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after buying an additional 1,055 shares during the last quarter. Bogart Wealth LLC raised its stake in Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after acquiring an additional 4,600 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in Sweetgreen by 312.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after purchasing an additional 2,127 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Sweetgreen during the third quarter worth about $82,000. Finally, Birch Financial Group LLC bought a new position in Sweetgreen during the third quarter worth about $86,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SG shares. DA Davidson started coverage on shares of Sweetgreen in a research report on Friday. They issued a “neutral” rating and a $5.50 price target on the stock. Royal Bank Of Canada cut their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Piper Sandler dropped their target price on Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.22.

Sweetgreen Price Performance

SG opened at $5.64 on Friday. The firm has a market capitalization of $667.61 million, a P/E ratio of -4.95 and a beta of 1.93. Sweetgreen, Inc. has a one year low of $4.99 and a one year high of $27.15. The company has a fifty day moving average price of $6.39 and a 200-day moving average price of $7.11.

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

Sweetgreen Profile

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.