Blair William & Co. IL Acquires 42,988 Shares of Sweetgreen, Inc. (NYSE:SG)

Key Points

• Blair William & Co. IL increased its holdings in Sweetgreen, Inc. by 58.3%, acquiring an additional 42,988 shares, bringing its total to 116,776 shares valued at approximately $2.92 million.
• Institutional investors own 95.75% of Sweetgreen stock, with several funds significantly increasing their positions during the first quarter.
• Sweetgreen reported a loss of $0.20 per share for its most recent quarter, missing analysts' estimates, while its revenue increased by just 0.5% year-over-year.

Blair William & Co. IL raised its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 58.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,776 shares of the company's stock after buying an additional 42,988 shares during the quarter. Blair William & Co. IL owned about 0.10% of Sweetgreen worth $2,922,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SG. Sequoia Financial Advisors LLC increased its position in Sweetgreen by 50.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company's stock valued at $332,000 after purchasing an additional 4,474 shares during the period. Stifel Financial Corp increased its position in shares of Sweetgreen by 55.3% during the fourth quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after buying an additional 4,474 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Sweetgreen by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock worth $936,000 after buying an additional 1,278 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Sweetgreen by 54.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock worth $523,000 after acquiring an additional 5,783 shares during the period. Finally, LPL Financial LLC grew its stake in Sweetgreen by 400.1% in the fourth quarter. LPL Financial LLC now owns 59,592 shares of the company's stock worth $1,911,000 after purchasing an additional 47,676 shares during the period. 95.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Cowen reaffirmed a "hold" rating and set a $19.00 price objective on shares of Sweetgreen in a research report on Tuesday, July 1st. Oppenheimer reduced their price target on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Barclays upped their price objective on Sweetgreen from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Wells Fargo & Company reissued an "overweight" rating and issued a $19.00 target price on shares of Sweetgreen in a report on Tuesday, July 1st. Finally, TD Securities reaffirmed a "hold" rating and set a $15.00 price target (down from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sweetgreen currently has an average rating of "Hold" and an average target price of $22.46.

Sweetgreen Stock Up 2.9%

Shares of NYSE:SG opened at $12.68 on Friday. The stock has a market capitalization of $1.49 billion, a PE ratio of -16.47 and a beta of 2.04. The firm's 50 day moving average price is $13.53 and its 200-day moving average price is $19.40. Sweetgreen, Inc. has a twelve month low of $11.84 and a twelve month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The business had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The firm's revenue was up .5% on a year-over-year basis. Analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other news, Director Clifford Burrows bought 19,200 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the purchase, the director owned 19,200 shares in the company, valued at approximately $251,712. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer owned 334,421 shares of the company's stock, valued at approximately $5,093,231.83. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.52% of the stock is currently owned by insiders.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.

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