Kodai Capital Management LP Purchases Shares of 371,787 Sweetgreen, Inc. $SG

Key Points

• Kodai Capital Management LP acquired a new position in Sweetgreen, Inc. during the 1st quarter, purchasing 371,787 shares worth approximately $9.3 million.
• Sweetgreen reported a Q2 loss of $0.20 EPS, missing analysts' expectations by $0.08, with revenue of $185.58 million, below the consensus estimate of $193.47 million.
• Several analysts have adjusted their price targets for Sweetgreen, with Piper Sandler lowering theirs from $20.00 to $12.00 and Wells Fargo maintaining an "overweight" rating with a target of $19.00.

Kodai Capital Management LP purchased a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 371,787 shares of the company's stock, valued at approximately $9,302,000. Kodai Capital Management LP owned approximately 0.32% of Sweetgreen as of its most recent SEC filing.

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

Insider Activity

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

Sweetgreen Price Performance

Shares of NYSE:SG traded up $0.14 during trading on Wednesday, hitting $8.95. 2,159,170 shares of the company were exchanged, compared to its average volume of 4,846,397. The company has a market cap of $1.06 billion, a PE ratio of -10.67 and a beta of 2.01. The stock has a 50 day moving average of $12.09 and a 200 day moving average of $16.69. Sweetgreen, Inc. has a 52-week low of $8.45 and a 52-week high of $45.12.

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

Analyst Upgrades and Downgrades

SG has been the topic of several recent analyst reports. Oppenheimer decreased their price target on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. TD Cowen reduced their price target on Sweetgreen from $15.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. reduced their price target on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. 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 report on Friday, August 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $19.00 price target on shares of Sweetgreen in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.69.

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.