Baillie Gifford & Co. Decreases Stock Holdings in Sweetgreen, Inc. $SG

Key Points

• Baillie Gifford trimmed its position in Sweetgreen by 3.6% in Q4, selling 393,654 shares and holding 10,666,540 shares (a 9.01% stake) valued at about $72.1 million.
• Goldman Sachs bought 594,553 shares at an average $5.69, increasing its Sweetgreen stake to 11,900,255 shares (a 5.26% rise), signaling institutional buying even as others adjust positions.
• Sweetgreen reported a Q4 earnings miss (EPS -$0.42 vs. -$0.31 expected) and revenue of $155.2M (down 3.5% YoY); the stock trades around $5.74 with a MarketBeat consensus rating of Hold and an average price target of $7.84.

Baillie Gifford & Co. decreased its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,666,540 shares of the company's stock after selling 393,654 shares during the quarter. Baillie Gifford & Co. owned 9.01% of Sweetgreen worth $72,106,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its position in Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock worth $30,000 after buying an additional 2,349 shares during the last quarter. Bogart Wealth LLC raised its position in Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company's stock worth $40,000 after buying an additional 4,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Sweetgreen by 124.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company's stock worth $50,000 after buying an additional 3,484 shares during the last quarter. Eastern Bank raised its position in Sweetgreen by 228.5% in the 4th quarter. Eastern Bank now owns 8,780 shares of the company's stock worth $59,000 after buying an additional 6,107 shares during the last quarter. Finally, Centurion Wealth Management LLC purchased a new position in Sweetgreen in the 4th quarter worth about $75,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SG shares. Royal Bank Of Canada decreased their target price on Sweetgreen from $8.00 to $7.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. UBS Group decreased their target price on Sweetgreen from $7.50 to $6.50 and set a "neutral" rating for the company in a research report on Monday, February 23rd. BNP Paribas Exane raised Sweetgreen to a "strong sell" rating in a research report on Monday, March 30th. JPMorgan Chase & Co. upped their price target on shares of Sweetgreen from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, January 20th. Finally, Oppenheimer reduced their price target on shares of Sweetgreen from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Sweetgreen presently has a consensus rating of "Hold" and an average price target of $7.84.

Insider Activity

In other Sweetgreen news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of Sweetgreen stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the transaction, the insider directly owned 11,900,255 shares of the company's stock, valued at $67,712,450.95. This trade represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Jammet purchased 4,428 shares of Sweetgreen stock in a transaction dated Thursday, March 5th. The shares were acquired 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 in the company, valued at approximately $128,720.53. The trade was a 24.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 19.78% of the stock is owned by corporate insiders.

Sweetgreen Stock Down 6.8%

NYSE SG opened at $5.74 on Tuesday. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $21.86. The firm has a market capitalization of $679.44 million, a P/E ratio of -5.04 and a beta of 1.90. The company has a 50-day moving average price of $5.55 and a 200-day moving average price of $6.47.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) 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 analysts' expectations of $159.59 million. During the same period in the previous year, the company earned ($0.25) EPS. Sweetgreen's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current 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.

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