Russell Investments Group Ltd. Sells 104,331 Shares of Sweetgreen, Inc. $SG

Key Points

• Russell Investments Group Ltd. significantly reduced its investment in Sweetgreen, selling 104,331 shares and decreasing its holdings by 97.7% during the first quarter, now owning only 2,457 shares valued at $61,000.
• Sweetgreen reported a quarterly loss of ($0.20) EPS, missing analysts' expectations, and had a revenue of $185.58 million, which was below the expected $193.47 million.
• The stock has seen target price adjustments from multiple analysts, with Wells Fargo maintaining an "overweight" rating and a target price of $19.00, while others have reduced their price targets significantly.

Russell Investments Group Ltd. trimmed its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 97.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,457 shares of the company's stock after selling 104,331 shares during the period. Russell Investments Group Ltd.'s holdings in Sweetgreen were worth $61,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 494 shares during the period. Spire Wealth Management increased its position 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 buying an additional 635 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Sweetgreen during the first quarter worth approximately $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings 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 buying an additional 1,700 shares during the last quarter. Finally, Fund 1 Investments LLC bought a new stake in shares of Sweetgreen in the fourth quarter valued at approximately $140,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Trading Up 0.3%

SG stock traded up $0.03 during trading on Wednesday, hitting $8.71. 5,975,519 shares of the stock traded hands, compared to its average volume of 5,596,310. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -10.36 and a beta of 2.01. Sweetgreen, Inc. has a one year low of $8.11 and a one year high of $45.12. The company has a 50 day simple moving average of $11.46 and a 200 day simple moving average of $16.11.

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). The firm had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS. Sweetgreen has set its FY 2025 guidance at EPS. As a group, analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. William Blair reissued an "outperform" rating on shares of Sweetgreen in a report on Friday, September 5th. Morgan Stanley reduced their price objective on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Bank of America lowered their price objective on Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. TD Securities reiterated a "hold" rating and set a $15.00 price target (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $17.69.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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.