Maverick Capital Ltd. Takes $6.43 Million Position in Sweetgreen, Inc. $SG

Key Points

• Maverick Capital Ltd. has acquired a new stake in Sweetgreen, Inc. totaling 256,812 shares, worth approximately $6.4 million, representing 0.22% of the company's stock.
• A significant number of institutional investors have increased their positions in Sweetgreen, with New York State Common Retirement Fund raising its stake by 352.0% in the first quarter, now owning 242,472 shares.
• Sweetgreen's recent earnings report showed a loss of ($0.20) per share, missing estimates, and revenue of $185.58 million, which was below analyst expectations of $193.47 million.

Maverick Capital Ltd. bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 256,812 shares of the company's stock, valued at approximately $6,425,000. Maverick Capital Ltd. owned about 0.22% of Sweetgreen at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after acquiring an additional 1,330,094 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in Sweetgreen during the first quarter worth about $31,558,000. Massachusetts Financial Services Co. MA increased its stake in Sweetgreen by 53.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company's stock worth $62,908,000 after acquiring an additional 874,942 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in Sweetgreen by 189.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after acquiring an additional 743,157 shares during the last quarter. Finally, RPG Investment Advisory LLC acquired a new stake in Sweetgreen during the first quarter worth about $18,502,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Stock Down 2.0%

Shares of SG traded down $0.17 during mid-day trading on Thursday, hitting $8.74. The stock had a trading volume of 4,679,533 shares, compared to its average volume of 4,856,588. The company has a market cap of $1.03 billion, a PE ratio of -10.40 and a beta of 2.01. The company's fifty day simple moving average is $12.02 and its two-hundred day simple moving average is $16.64. Sweetgreen, Inc. has a fifty-two week low of $8.45 and a fifty-two week high of $45.12.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays dropped their price target on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Royal Bank Of Canada decreased their target price on Sweetgreen from $25.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Oppenheimer decreased their target price on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. decreased their target price on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, June 25th. Finally, The Goldman Sachs Group decreased their target price on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, June 4th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Sweetgreen currently has an average rating of "Hold" and a consensus target price of $17.69.

Insider Activity

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of Sweetgreen 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 of the company's stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 19.78% of the company's stock.

About Sweetgreen

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.