Northern Trust Corp Sells 31,337 Shares of Sweetgreen, Inc. $SG

Key Points

• Northern Trust Corp has reduced its holdings in Sweetgreen, Inc. by 3.3%, now owning 910,622 shares valued at approximately $22.78 million.
• Institutional investors currently hold 95.75% of Sweetgreen’s stock, indicating strong institutional interest in the company.
• Sweetgreen reported a net loss of ($0.20) earnings per share in its latest quarter, missing analysts' expectations and showing a 0.5% year-over-year revenue increase.

Northern Trust Corp trimmed its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 910,622 shares of the company's stock after selling 31,337 shares during the period. Northern Trust Corp owned 0.78% of Sweetgreen worth $22,784,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in shares of Sweetgreen by 54.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after purchasing an additional 5,783 shares during the period. Tower Research Capital LLC TRC grew its stake in Sweetgreen by 45.7% in the 4th 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. Stifel Financial Corp raised its holdings in Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock worth $403,000 after acquiring an additional 4,474 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Sweetgreen by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,162 shares of the company's stock worth $2,763,000 after acquiring an additional 7,214 shares during the period. Finally, Tudor Investment Corp ET AL lifted its position in Sweetgreen by 108.9% during the 4th quarter. Tudor Investment Corp ET AL now owns 81,489 shares of the company's stock worth $2,613,000 after acquiring an additional 42,480 shares during the last quarter. Institutional investors own 95.75% of the company's stock.

Insiders Place Their Bets

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 value of $105,960.70. Following the completion of the transaction, the chief financial officer owned 322,891 shares in the company, valued at approximately $2,967,368.29. The trade was a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.78% of the stock is owned by corporate insiders.

Sweetgreen Stock Performance

NYSE SG traded down $0.19 during trading on Thursday, reaching $8.73. 2,442,396 shares of the company traded hands, compared to its average volume of 4,842,616. The stock's 50 day moving average price is $12.02 and its two-hundred day moving average price is $16.64. Sweetgreen, Inc. has a 1-year low of $8.45 and a 1-year high of $45.12. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -10.40 and a beta of 2.01.

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

Analyst Upgrades and Downgrades

SG has been the topic of several research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $19.00 price target on shares of Sweetgreen in a research report on Tuesday, July 1st. Morgan Stanley lowered their target price on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. UBS Group dropped their price target on Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Barclays cut their price target on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Finally, Bank of America lowered their price objective on shares of Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $17.69.

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.