Rip Road Capital Partners LP Invests $2.08 Million in Sweetgreen, Inc. $SG

Key Points

• Rip Road Capital Partners LP has acquired a new stake in Sweetgreen, Inc., purchasing 83,000 shares valued at approximately $2.08 million, making it the fund’s 17th largest position.
• Multiple large investors have increased their stakes in Sweetgreen, with hedge funds and institutional investors owning approximately 95.75% of the stock.
• Sweetgreen recently reported a net loss of $0.20 EPS for the last quarter, missing consensus estimates, and has a consensus rating of "Hold" with a target price of $17.69.

Rip Road Capital Partners LP bought a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 83,000 shares of the company's stock, valued at approximately $2,077,000. Sweetgreen comprises 2.3% of Rip Road Capital Partners LP's portfolio, making the stock its 17th largest position. Rip Road Capital Partners LP owned approximately 0.07% of Sweetgreen as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SG. TD Cowen decreased their target price 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 decreased their target price 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. Bank of America decreased their target price on shares of Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, July 18th. UBS Group decreased their target price on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.69.

Sweetgreen Trading Up 0.3%

Shares of Sweetgreen stock traded up $0.03 during trading hours on Wednesday, reaching $8.71. The stock had a trading volume of 5,975,519 shares, compared to its average volume of 5,596,310. The stock's 50 day moving average is $11.46 and its 200 day moving average is $16.11. The firm has a market capitalization of $1.03 billion, a PE ratio of -10.36 and a beta of 2.01. Sweetgreen, Inc. has a twelve month low of $8.11 and a twelve month high of $45.12.

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 analysts' consensus estimates 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%.The company's revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. Sweetgreen has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling 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 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. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 19.78% of the company's stock.

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.