Bosun Asset Management LLC Sells 74,927 Shares of Sweetgreen, Inc. $SG

Key Points

• Bosun Asset Management LLC has reduced its stake in Sweetgreen, Inc. by 41.3%, selling 74,927 shares and ending up with 106,663 shares, making it the company's 12th largest holding.
• A significant portion of Sweetgreen's stock, approximately 95.75%, is now owned by hedge funds and institutional investors, with New York State Common Retirement Fund increasing its holdings by 352.0%.
• Analysts have downgraded Sweetgreen's stock price targets, with Barclays lowering their target from $17.00 to $10.00 and a consensus rating now at "Hold" with an average target price of $17.69.

Bosun Asset Management LLC lowered its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,663 shares of the company's stock after selling 74,927 shares during the quarter. Sweetgreen comprises approximately 1.1% of Bosun Asset Management LLC's investment portfolio, making the stock its 12th largest holding. Bosun Asset Management LLC owned about 0.09% of Sweetgreen worth $2,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew 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 worth $332,000 after purchasing an additional 4,474 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Sweetgreen by 55.3% during the fourth quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock worth $403,000 after buying an additional 4,474 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sweetgreen by 4.6% during 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 during the period. New York State Common Retirement Fund grew its holdings in shares of Sweetgreen by 352.0% during the first quarter. New York State Common Retirement Fund now owns 242,472 shares of the company's stock valued at $6,067,000 after buying an additional 188,830 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Sweetgreen in the 4th quarter valued at $739,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on SG shares. Barclays lowered their price target on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Morgan Stanley reduced their price target on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. The Goldman Sachs Group reduced their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. UBS Group dropped their target price on Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, TD Cowen decreased their target price on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $17.69.

Sweetgreen Stock Performance

NYSE:SG opened at $8.91 on Thursday. The company has a fifty day moving average of $12.02 and a two-hundred day moving average of $16.64. Sweetgreen, Inc. has a fifty-two week low of $8.45 and a fifty-two week high of $45.12. The stock has a market capitalization of $1.05 billion, a PE ratio of -10.60 and a beta of 2.01.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The firm had revenue of $185.58 million during the quarter, compared to analyst estimates of $193.47 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. The business's revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. Research analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current 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.

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