Northwest & Ethical Investments L.P. Invests $952,000 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 1st 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 large investors have also recently bought and sold shares of SG. Wells Fargo & Company MN boosted its position in Sweetgreen by 44.0% during the 4th quarter. Wells Fargo & Company MN now owns 98,212 shares of the company's stock worth $3,149,000 after acquiring an additional 30,022 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Sweetgreen by 54.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock worth $523,000 after buying an additional 5,783 shares during the period. Raymond James Financial Inc. bought a new position in Sweetgreen during the 4th quarter worth $2,265,000. Rockefeller Capital Management L.P. grew its holdings in shares of Sweetgreen by 9.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 26,073 shares of the company's stock worth $836,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Sweetgreen by 81.4% during the 4th quarter. Barclays PLC now owns 205,171 shares of the company's stock worth $6,577,000 after purchasing an additional 92,071 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the transaction, the chief financial officer directly owned 322,891 shares in the company, valued at $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.78% of the stock is owned by company insiders.

Sweetgreen Stock Down 2.4%

Shares of SG stock traded down $0.22 during mid-day trading on Monday, reaching $9.12. 4,592,500 shares of the stock traded hands, compared to its average volume of 7,521,907. The stock's fifty day simple moving average is $12.51 and its two-hundred day simple moving average is $17.38. 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 $1.08 billion, a price-to-earnings ratio of -10.86 and a beta of 2.04.

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). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The firm had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Analyst Ratings Changes

SG has been the topic of several analyst reports. TD Cowen reduced their target price on Sweetgreen from $15.00 to $10.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. TD Securities reaffirmed a "hold" rating and issued a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Barclays reduced their price objective on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Finally, The Goldman Sachs Group reduced their price objective on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.