RPG Investment Advisory LLC Takes $18.50 Million Position in Sweetgreen, Inc. $SG

Key Points

• RPG Investment Advisory LLC acquired approximately 739,490 shares of Sweetgreen, valued at about $18.5 million, during the first quarter, increasing their stake to 0.63% of the company's total shares.
• Investment analysts have downgraded Sweetgreen's stock price targets, with reductions from Royal Bank of Canada and UBS Group, leading to a consensus rating of "Hold" with an average price target of $17.69.
• Sweetgreen reported a quarterly earnings miss with an EPS of ($0.20) and revenues of $185.58 million, falling short of analyst expectations, indicating challenges in its financial performance.

RPG Investment Advisory LLC acquired a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 739,490 shares of the company's stock, valued at approximately $18,502,000. RPG Investment Advisory LLC owned about 0.63% of Sweetgreen at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SG. Wellington Management Group LLP raised its position in shares of Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after acquiring an additional 1,330,094 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Sweetgreen by 53.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company's stock valued at $62,908,000 after buying an additional 874,942 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Sweetgreen by 189.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock valued at $36,369,000 after buying an additional 743,157 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Sweetgreen by 848.5% in the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock valued at $24,000,000 after purchasing an additional 669,657 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its position in Sweetgreen by 184.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,022,397 shares of the company's stock worth $32,778,000 after purchasing an additional 663,347 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SG has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Wells Fargo & Company restated an "overweight" rating and set a $19.00 target price on shares of Sweetgreen in a report on Tuesday, July 1st. Barclays lowered their price target on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Piper Sandler lowered their price objective on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Finally, TD Securities reiterated a "hold" rating and issued a $15.00 price target (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.69.

Sweetgreen Price Performance

NYSE SG traded down $0.01 on Wednesday, hitting $9.14. The stock had a trading volume of 1,659,489 shares, compared to its average volume of 4,860,771. The business's fifty day moving average price is $12.45 and its 200 day moving average price is $17.32. Sweetgreen, Inc. has a 52-week low of $8.45 and a 52-week high of $45.12. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -10.88 and a beta of 2.04.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (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 business had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company's revenue for the quarter was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the company's 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.