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 bought a new stake in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 739,490 shares of the company's stock, valued at approximately $18,502,000. RPG Investment Advisory LLC owned about 0.63% of Sweetgreen as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after purchasing an additional 494 shares during the last quarter. Spire Wealth Management grew its holdings in 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 purchasing an additional 635 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Sweetgreen in the first quarter valued at $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its holdings in Sweetgreen by 70.8% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company's stock valued at $103,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Fund 1 Investments LLC acquired a new stake in Sweetgreen in the fourth quarter valued at $140,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Oppenheimer reduced their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company restated an "overweight" rating and issued a $19.00 price objective on shares of Sweetgreen in a research report on Tuesday, July 1st. Piper Sandler reduced their price objective on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. reduced their price objective on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. Finally, TD Cowen reduced their price objective on Sweetgreen from $15.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $17.69.

Sweetgreen Stock Performance

NYSE SG traded up $0.3270 during trading hours on Friday, hitting $9.3070. 6,061,974 shares of the company's stock were exchanged, compared to its average volume of 7,521,907. The business's 50 day moving average is $12.58 and its 200-day moving average is $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 capitalization of $1.10 billion, a P/E ratio of -11.08 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 the consensus estimate of ($0.12) by ($0.08). The firm had revenue of $185.58 million for 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 business's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the company'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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.78% of the stock is owned by corporate 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.