RPG Investment Advisory LLC Cuts Stock Holdings in Sweetgreen, Inc. $SG

Key Points

• RPG Investment Advisory LLC cut its Sweetgreen stake by 34.0%, selling 209,711 shares and leaving it with 406,480 shares valued at about $2.75 million as of the latest 13F filing.
• Sweetgreen missed the quarter with EPS of ($0.42) vs. ($0.31) expected and revenue of $155.19M versus $159.59M est.; revenue fell 3.5% year-over-year and the company has negative margins while the stock trades near its 12‑month low (opened at $5.38) with a market cap of ~$637M.
• Analysts' consensus is a "Hold" with an average price target of $7.84 amid several recent downgrades and target cuts, while insider Nicolas Jammet purchased 4,428 shares, increasing his ownership by 24.44%.

RPG Investment Advisory LLC lowered its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,480 shares of the company's stock after selling 209,711 shares during the quarter. RPG Investment Advisory LLC owned approximately 0.34% of Sweetgreen worth $2,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. lifted its holdings in Sweetgreen by 75.8% in the 3rd quarter. Citigroup Inc. now owns 531,171 shares of the company's stock valued at $4,239,000 after purchasing an additional 228,961 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in Sweetgreen by 82.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company's stock worth $31,496,000 after purchasing an additional 1,788,175 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Sweetgreen during the third quarter worth $4,527,000. Divisadero Street Capital Management LP purchased a new stake in shares of Sweetgreen during the third quarter worth $2,037,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Sweetgreen in the third quarter valued at about $3,177,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Trading Down 0.1%

Shares of SG stock opened at $5.38 on Friday. Sweetgreen, Inc. has a twelve month low of $4.49 and a twelve month high of $24.47. The company's 50-day moving average price is $5.61 and its 200-day moving average price is $6.60. The stock has a market cap of $637.30 million, a price-to-earnings ratio of -4.72 and a beta of 1.90.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The firm had revenue of $155.19 million for the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.Sweetgreen's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share. As a group, equities research analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analyst Ratings Changes

SG has been the topic of a number of recent research reports. Wells Fargo & Company lowered shares of Sweetgreen from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $10.00 to $7.00 in a research report on Wednesday, December 17th. Wolfe Research assumed coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a "peer perform" rating for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Sweetgreen in a research note on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Sweetgreen from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, January 20th. Finally, UBS Group dropped their price target on Sweetgreen from $7.50 to $6.50 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.84.

Insider Activity

In other news, insider Nicolas Jammet purchased 4,428 shares of Sweetgreen stock in a transaction dated Thursday, March 5th. The shares were purchased at an average price of $5.71 per share, with a total value of $25,283.88. Following the transaction, the insider owned 22,543 shares in the company, valued at $128,720.53. This represents a 24.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.78% of the stock is owned by corporate insiders.

Sweetgreen Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company's menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.

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