361,703 Shares in Sweetgreen, Inc. $SG Acquired by Nuveen LLC

Key Points

• Nuveen LLC purchased 361,703 shares of Sweetgreen, Inc., valued at approximately $9,050,000, increasing their stake to about 0.31% as disclosed in their SEC filing.
• Sweetgreen has faced recent difficulties, reporting a quarterly EPS of (0.20), missing estimates, and experiencing a significant drop in analyst price targets.
• The stock currently has a market cap of $1.10 billion, with a one-year price range between $8.45 and $45.12, indicating considerable volatility.

Nuveen LLC bought a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 361,703 shares of the company's stock, valued at approximately $9,050,000. Nuveen LLC owned approximately 0.31% of Sweetgreen at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after acquiring an additional 494 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after acquiring an additional 635 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Sweetgreen in the first quarter valued at about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in shares of Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company's stock worth $103,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Fund 1 Investments LLC purchased a new stake in shares of Sweetgreen during the fourth quarter worth about $140,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Trading Down 1.8%

Shares of NYSE SG traded down $0.17 during mid-day trading on Friday, reaching $9.09. The company had a trading volume of 4,386,674 shares, compared to its average volume of 7,227,332. Sweetgreen, Inc. has a 1-year low of $8.45 and a 1-year high of $45.12. The stock has a market cap of $1.08 billion, a PE ratio of -10.83 and a beta of 2.04. The company has a 50-day moving average price of $12.26 and a two-hundred day moving average price of $17.01.

Sweetgreen (NYSE:SG - Get Free Report) last released 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). The company 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%.The business's revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) EPS. Sweetgreen has set its FY 2025 guidance at EPS. On average, research analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer reduced their target price on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Piper Sandler dropped their target price on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, August 8th. TD Securities reissued a "hold" rating and set a $15.00 target price (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Morgan Stanley cut their target price on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. reduced their price target on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Sweetgreen currently has an average rating of "Hold" and a consensus target price of $17.69.

Insider Activity

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

Sweetgreen 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.