Silvant Capital Management LLC Makes New $949,000 Investment in Sweetgreen, Inc. $SG

Key Points

• Silvant Capital Management has made a new investment in Sweetgreen, acquiring 37,941 shares valued at approximately $949,000 during the first quarter.
• Sweetgreen reported negative earnings per share of ($0.20) for the last quarter, missing analysts' estimates, and had a revenue of $185.58 million, below expectations.
• Insider CFO Mitch Reback sold 11,530 shares, reducing his position by 3.45%, while 95.75% of Sweetgreen's stock is owned by hedge funds and institutional investors.

Silvant Capital Management LLC acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,941 shares of the company's stock, valued at approximately $949,000.

Several other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after buying an additional 494 shares during the period. Spire Wealth Management lifted its position 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 period. GF Fund Management CO. LTD. acquired a new stake in Sweetgreen in the first quarter valued at about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position 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 period. Finally, Fund 1 Investments LLC acquired a new stake in Sweetgreen in the fourth quarter valued at about $140,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Trading Up 0.5%

Shares of Sweetgreen stock opened at $9.15 on Wednesday. Sweetgreen, Inc. has a 12-month low of $8.45 and a 12-month high of $45.12. The stock has a market cap of $1.08 billion, a PE ratio of -10.89 and a beta of 2.04. The company has a 50-day moving average of $12.45 and a two-hundred day moving average of $17.32.

Sweetgreen (NYSE:SG - Get Free Report) last issued 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 company had revenue of $185.58 million during the quarter, compared to analysts' expectations of $193.47 million. During the same period last year, the business posted ($0.13) earnings per share. The company's quarterly revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the transaction, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SG. Barclays reduced their price objective on shares of Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Oppenheimer reduced their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. UBS Group dropped their target price on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating for the company in a report on Friday, August 8th. TD Securities reaffirmed a "hold" rating and issued a $15.00 target price (down from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. Finally, Bank of America dropped their target price on shares of Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a report on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $17.69.

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.

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