Liontrust Investment Partners LLP Has $3.06 Million Stock Position in Sweetgreen, Inc. (NYSE:SG)

Key Points

• Liontrust Investment Partners LLP increased its stake in Sweetgreen by 62.8% during the first quarter, owning a total of 122,325 shares valued at approximately $3.06 million.
• Institutional investors and hedge funds currently hold 95.75% of Sweetgreen’s stock, indicating significant institutional interest.
• Sweetgreen recently reported a loss per share of ($0.20) for the quarter, falling short of analysts' expectations and reflecting a negative net margin of 14.29%.

Liontrust Investment Partners LLP increased its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,325 shares of the company's stock after buying an additional 47,202 shares during the period. Liontrust Investment Partners LLP owned 0.10% of Sweetgreen worth $3,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its position in Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after buying an additional 473 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in 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 buying an additional 494 shares in the last quarter. Oberweis Asset Management Inc. lifted its position in Sweetgreen by 0.6% during the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock valued at $3,084,000 after purchasing an additional 610 shares during the period. Spire Wealth Management lifted its position in Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after purchasing an additional 635 shares during the period. Finally, Forum Financial Management LP lifted its position in Sweetgreen by 17.5% during the 4th quarter. Forum Financial Management LP now owns 8,112 shares of the company's stock valued at $260,000 after purchasing an additional 1,209 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Activity at Sweetgreen

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

Sweetgreen Price Performance

Shares of SG stock opened at $9.16 on Friday. The stock has a market cap of $1.07 billion, a PE ratio of -10.90 and a beta of 2.04. The stock has a 50-day moving average of $12.99 and a 200-day moving average of $18.54. Sweetgreen, Inc. has a one year low of $8.80 and a one year high of $45.12.

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). The company had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business's revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SG shares. TD Cowen cut their target price on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company restated an "overweight" rating and set a $19.00 target price on shares of Sweetgreen in a research report on Tuesday, July 1st. The Goldman Sachs Group cut their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 4th. TD Securities restated a "hold" rating and set a $15.00 target price (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. Finally, Oppenheimer cut their target price on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.69.

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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