Blair William & Co. IL Buys 1,040,629 Shares of Sweetgreen, Inc. $SG

Key Points

• Blair William & Co. IL significantly increased its holdings in Sweetgreen, Inc. by 891.1%, acquiring over 1 million shares and owning about 0.99% of the company, valued at approximately $17.22 million as of the latest SEC filing.
• Analysts have issued varied price targets for Sweetgreen, with Wells Fargo setting a target of $19.00, while others like Piper Sandler and Barclays have lowered theirs to between $10.00 and $12.00.
• Sweetgreen reported a quarterly loss, with earnings per share at ($0.20), missing analyst estimates, and its revenue increased just 0.5% year-over-year despite falling short of expectations.

Blair William & Co. IL raised its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 891.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,157,405 shares of the company's stock after buying an additional 1,040,629 shares during the period. Blair William & Co. IL owned about 0.99% of Sweetgreen worth $17,222,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock valued at $144,180,000 after acquiring an additional 1,330,094 shares during the period. Champlain Investment Partners LLC acquired a new position in Sweetgreen during the 1st quarter valued at about $31,558,000. Durable Capital Partners LP boosted its stake in shares of Sweetgreen by 29.5% in the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company's stock valued at $113,218,000 after purchasing an additional 1,030,176 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Sweetgreen by 53.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company's stock worth $62,908,000 after buying an additional 874,942 shares during the period. Finally, RPG Investment Advisory LLC bought a new stake in shares of Sweetgreen during the first quarter worth approximately $18,502,000. Institutional investors own 95.75% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. Piper Sandler reduced their price target on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Barclays dropped their price objective on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada cut their target price on Sweetgreen from $25.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley decreased their target price on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.73.

Sweetgreen Trading Down 4.9%

NYSE:SG opened at $7.55 on Friday. Sweetgreen, Inc. has a 1 year low of $7.52 and a 1 year high of $45.12. The stock has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $13.76. The stock has a market cap of $891.89 million, a price-to-earnings ratio of -8.98 and a beta of 1.97.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data 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 net margin of 14.29% and a negative return on equity of 22.21%. The business had revenue of $185.58 million for the quarter, compared to the consensus estimate of $193.47 million. During the same quarter last year, the firm earned ($0.13) EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares of the company's stock, valued at $2,967,368.29. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.78% of the stock is owned by corporate insiders.

Sweetgreen Company 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.

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