517,202 Shares in Sweetgreen, Inc. $SG Bought by Wellington Management Group LLP

Key Points

• Wellington Management initiated a Sweetgreen position by buying 517,202 shares worth approximately $4.56 million, representing about 0.43% of the company. Institutional investors collectively own 95.75% of Sweetgreen.
• Sweetgreen’s latest quarterly results fell short of expectations: the company reported a $0.22 loss per share versus the $0.13 consensus estimate, while revenue of $192.66 million missed forecasts slightly but increased 3.8% year over year.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $7.21 compared with the stock’s reported price of $6.70. UBS upgraded the shares to “Buy,” while several firms lowered their price targets.

Wellington Management Group LLP purchased a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 517,202 shares of the company's stock, valued at approximately $4,557,000. Wellington Management Group LLP owned about 0.43% of Sweetgreen as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in SG. Larson Financial Group LLC lifted its position in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock worth $30,000 after purchasing an additional 2,349 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Sweetgreen in the 1st quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd increased its position in Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company's stock worth $53,000 after buying an additional 5,839 shares during the period. Onyx Bridge Wealth Group LLC bought a new position in Sweetgreen in the 1st quarter worth approximately $56,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Sweetgreen during the fourth quarter worth approximately $77,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Price Performance

Shares of SG stock opened at $6.70 on Thursday. The stock has a market cap of $798.04 million, a P/E ratio of 67.05 and a beta of 2.20. Sweetgreen, Inc. has a one year low of $4.49 and a one year high of $10.63. The stock has a fifty day moving average price of $6.71 and a 200 day moving average price of $6.91.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.09). Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The business had revenue of $192.66 million during the quarter, compared to the consensus estimate of $194.50 million. During the same period last year, the firm earned ($0.20) EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.98 EPS for the current year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of Sweetgreen stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares of the company's stock, valued at approximately $1,285,941.96. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the sale, the chief financial officer owned 210,489 shares in the company, valued at approximately $1,307,136.69. This represents a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

SG has been the topic of a number of research reports. UBS Group raised shares of Sweetgreen from a "neutral" rating to a "buy" rating in a research report on Friday, August 7th. TD Cowen reduced their price target on shares of Sweetgreen from $8.00 to $5.00 and set a "hold" rating for the company in a report on Friday, August 7th. Citigroup decreased their price target on shares of Sweetgreen from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. DA Davidson dropped their price objective on shares of Sweetgreen from $7.00 to $5.50 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, Royal Bank Of Canada cut their price objective on shares of Sweetgreen from $7.00 to $6.50 and set an "outperform" rating for the company in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of "Hold" and a consensus price target of $7.21.

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.

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