Northwest & Ethical Investments L.P. Takes $952,000 Position in Sweetgreen, Inc. $SG

Key Points

• Northwest & Ethical Investments L.P. has invested approximately $952,000 in Sweetgreen, acquiring 38,042 shares during the first quarter.
• As of now, 95.75% of Sweetgreen's stock is owned by institutional investors and hedge funds, indicating strong interest from large investors.
• Sweetgreen recently reported a negative EPS of ($0.20), missing the consensus estimate, and has a current average price target set at $17.69 among analysts.

Northwest & Ethical Investments L.P. acquired a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 38,042 shares of the company's stock, valued at approximately $952,000.

A number of other hedge funds have also bought and sold shares of SG. 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 in the last quarter. Spire Wealth Management grew its stake 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 buying an additional 635 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Sweetgreen in the 1st quarter valued at approximately $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake 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 buying an additional 1,700 shares in the last quarter. Finally, Fund 1 Investments LLC purchased a new position in Sweetgreen in the 4th quarter valued at approximately $140,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SG has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. TD Cowen reduced their price target on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Piper Sandler reduced their price target on shares of Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. TD Securities restated a "hold" rating and set a $15.00 price target (down from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. Finally, Oppenheimer reduced their price target on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Six investment 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, the company has a consensus rating of "Hold" and a consensus price target of $17.69.

Sweetgreen Price Performance

NYSE SG traded down $0.1950 during trading on Monday, hitting $9.1450. 1,373,767 shares of the company's stock traded hands, compared to its average volume of 4,869,572. The stock has a fifty day moving average of $12.58 and a two-hundred day moving average of $17.52. Sweetgreen, Inc. has a 12-month low of $8.45 and a 12-month high of $45.12. The firm has a market cap of $1.08 billion, a P/E ratio of -10.89 and a beta of 2.04.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly 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). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business had revenue of $185.58 million for the quarter, compared to analysts' expectations of $193.47 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The business's quarterly revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. As a group, analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the sale, the chief financial officer directly 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 filing with the SEC, which is available at this hyperlink. 19.78% of the stock is currently owned by insiders.

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.