EFG Asset Management North America Corp. Acquires 43,922 Shares of Sweetgreen, Inc. $SG

Key Points

• EFG Asset Management North America Corp. increased its stake in Sweetgreen, Inc. by 59.8% in the first quarter, owning approximately 0.10% of the company worth about $2.9 million.
• Sweetgreen reported a loss of ($0.20) earnings per share for the latest quarter, missing analysts' expectations, with a revenue of $185.58 million, below the forecast of $193.47 million.
• Analysts have adjusted their price targets for Sweetgreen, with new targets ranging from $12.00 to $22.00, indicating a consensus "Hold" rating for the stock.

EFG Asset Management North America Corp. lifted its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 59.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,327 shares of the company's stock after buying an additional 43,922 shares during the period. EFG Asset Management North America Corp. owned about 0.10% of Sweetgreen worth $2,937,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after purchasing an additional 494 shares during the last quarter. Spire Wealth Management increased its stake in shares of Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Sweetgreen during the 1st quarter worth about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of Sweetgreen by 70.8% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company's stock worth $103,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Fund 1 Investments LLC acquired a new position in shares of Sweetgreen during the 4th quarter worth about $140,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

SG traded down $0.69 on Monday, reaching $8.25. The company had a trading volume of 13,652,193 shares, compared to its average volume of 4,908,939. Sweetgreen, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $45.12. The stock has a market cap of $974.66 million, a P/E ratio of -9.82 and a beta of 2.01. The company's fifty day moving average is $11.83 and its 200 day moving average is $16.31.

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 analysts' consensus estimates 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 company had revenue of $185.58 million during the quarter, compared to analyst estimates of $193.47 million. During the same quarter last year, the company posted ($0.13) EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating and set a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. UBS Group lowered their price objective on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Royal Bank Of Canada lowered their price objective on shares of 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 lowered their price objective on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $17.69.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total value 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. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 19.78% of the stock is owned by corporate insiders.

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.