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 increased its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,776 shares of the company's stock after purchasing an additional 42,988 shares during the period. Blair William & Co. IL owned 0.10% of Sweetgreen worth $2,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in shares of Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after purchasing an additional 47,676 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Sweetgreen by 16.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,776 shares of the company's stock valued at $442,000 after acquiring an additional 1,964 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Sweetgreen by 1.3% during the 4th quarter. Alliancebernstein L.P. now owns 102,967 shares of the company's stock valued at $3,301,000 after acquiring an additional 1,300 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Sweetgreen by 65.1% during the 4th quarter. Franklin Resources Inc. now owns 183,413 shares of the company's stock valued at $5,880,000 after acquiring an additional 72,339 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Sweetgreen by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,281,671 shares of the company's stock valued at $73,167,000 after acquiring an additional 32,262 shares during the last quarter. Institutional investors own 95.75% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SG shares. Bank of America cut their price objective on Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, July 18th. UBS Group cut their target price on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday. Wells Fargo & Company reissued an "overweight" rating and set a $19.00 target price on shares of Sweetgreen in a research note on Tuesday, July 1st. Barclays cut their target price on shares of Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, TD Securities reissued a "hold" rating and set a $15.00 target price (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.69.

Insider Activity

In other Sweetgreen news, Director Clifford Burrows purchased 19,200 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $13.11 per share, with a total value of $251,712.00. Following the completion of the transaction, the director owned 19,200 shares in the company, valued at $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,088 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total value of $153,640.24. Following the completion of the sale, the chief financial officer directly owned 334,421 shares in the company, valued at approximately $5,093,231.83. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.78% of the company's stock.

Sweetgreen Trading Down 3.1%

Sweetgreen stock traded down $0.30 during mid-day trading on Tuesday, hitting $9.29. 2,604,828 shares of the company's stock were exchanged, compared to its average volume of 4,789,028. The stock has a market cap of $1.09 billion, a P/E ratio of -11.07 and a beta of 2.04. Sweetgreen, Inc. has a 1-year low of $8.80 and a 1-year high of $45.12. The stock has a 50 day moving average of $13.38 and a two-hundred day moving average of $18.97.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 21.91%. The company had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same quarter last year, the business earned ($0.13) EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Sweetgreen Profile

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.