Vanguard Group Inc. Sells 74,138 Shares of Sweetgreen, Inc. $SG

Vanguard Group Inc. reduced its position in shares of Sweetgreen, Inc. (NYSE:SG) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,519,606 shares of the company’s stock after selling 74,138 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Sweetgreen worth $64,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spyglass Capital Management LLC raised its holdings in Sweetgreen by 4.0% during the 3rd quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after buying an additional 156,757 shares during the last quarter. Greenhouse Funds LLLP raised its holdings in Sweetgreen by 82.8% in the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock worth $31,496,000 after purchasing an additional 1,788,175 shares in the last quarter. Marshall Wace LLP raised its holdings in Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after purchasing an additional 3,667,306 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Sweetgreen by 240.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock worth $13,509,000 after purchasing an additional 1,196,222 shares in the last quarter. Finally, UBS Group AG raised its holdings in Sweetgreen by 9.2% in the 3rd quarter. UBS Group AG now owns 1,385,621 shares of the company’s stock worth $11,057,000 after purchasing an additional 117,084 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet bought 4,428 shares of Sweetgreen stock in a transaction dated Thursday, March 5th. The shares were purchased at an average cost of $5.71 per share, with a total value of $25,283.88. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Goldman Sachs Group Inc bought 594,553 shares of Sweetgreen stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the completion of the transaction, the insider directly owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. This trade represents a 5.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada decreased 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. Oppenheimer decreased their price objective on shares of Sweetgreen from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Wolfe Research assumed coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. DA Davidson upped their price objective on shares of Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday. Finally, TD Cowen upped their price objective on shares of Sweetgreen from $5.00 to $7.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.60.

Sweetgreen Price Performance

NYSE:SG opened at $6.90 on Friday. The firm’s 50-day moving average price is $6.02 and its 200-day moving average price is $6.32. The company has a market capitalization of $819.13 million, a PE ratio of 57.46 and a beta of 2.03. Sweetgreen, Inc. has a 1-year low of $4.49 and a 1-year high of $16.70.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) earnings per share. Equities analysts anticipate that Sweetgreen, Inc. will post -0.76 EPS for the current fiscal year.

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.