Invesco Ltd. Reduces Stock Position in Sweetgreen, Inc. (NYSE:SG)

Invesco Ltd. reduced its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,324,572 shares of the company's stock after selling 191,651 shares during the period. Invesco Ltd. owned 4.54% of Sweetgreen worth $133,221,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its holdings in shares of Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after purchasing an additional 473 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after buying an additional 494 shares during the period. Oberweis Asset Management Inc. lifted its holdings in Sweetgreen by 0.6% in the fourth quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after buying an additional 610 shares during the period. Spire Wealth Management lifted its holdings in Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after buying an additional 635 shares during the period. Finally, Forum Financial Management LP lifted its holdings in Sweetgreen by 17.5% in the fourth quarter. Forum Financial Management LP now owns 8,112 shares of the company's stock worth $260,000 after buying an additional 1,209 shares during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SG shares. Barclays lowered their price objective on shares of Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a report 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 for the company in a report on Wednesday, June 25th. Bank of America lowered their price objective on shares of Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a report on Friday, July 18th. TD Securities restated a "hold" rating and issued a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. Finally, Oppenheimer decreased their target price on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.69.

Insider Buying and Selling

In other Sweetgreen news, Director Clifford Burrows bought 19,200 shares of Sweetgreen stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the acquisition, the director directly owned 19,200 shares in the company, valued at approximately $251,712. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 19.78% of the stock is currently owned by insiders.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $9.18 on Friday. The company's fifty day simple moving average is $13.09 and its 200-day simple moving average is $18.70. The stock has a market capitalization of $1.08 billion, a PE ratio of -10.92 and a beta of 2.04. Sweetgreen, Inc. has a 1-year low of $8.80 and a 1-year high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $185.58 million for the quarter, compared to analysts' expectations of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) EPS. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS 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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