Sweetgreen, Inc. (NYSE:SG) Shares Acquired by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. increased its stake in Sweetgreen, Inc. by 3.4%, bringing its total ownership to approximately 9.98% of the company, valued at $292.9 million.
• Insider transactions include CFO Mitch Reback selling 10,088 shares while director Clifford Burrows bought 19,200 shares, marking significant changes in their respective positions.
• Recent analyst ratings have cut Sweetgreen's price targets, with the average consensus now at $23.31, while the stock is currently trading around $14.32.

Baillie Gifford & Co. increased its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,707,090 shares of the company's stock after buying an additional 386,141 shares during the quarter. Baillie Gifford & Co. owned about 9.98% of Sweetgreen worth $292,911,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SG. Summit Investment Advisors Inc. boosted its stake in Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after buying an additional 473 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after acquiring an additional 494 shares during the last quarter. Oberweis Asset Management Inc. boosted its position in shares of Sweetgreen by 0.6% during the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after purchasing an additional 610 shares during the period. Spire Wealth Management boosted its position in shares of Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares during the period. Finally, Xponance Inc. boosted its position in shares of Sweetgreen by 10.8% during the 4th quarter. Xponance Inc. now owns 7,185 shares of the company's stock worth $230,000 after purchasing an additional 702 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Mitch Reback sold 10,088 shares of Sweetgreen stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer directly owned 334,421 shares in the company, valued at $5,093,231.83. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Clifford Burrows purchased 19,200 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $13.11 per share, with a total value of $251,712.00. Following the completion of the acquisition, the director owned 19,200 shares of the company's stock, valued at approximately $251,712. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. Piper Sandler dropped their price target on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group cut their price objective on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 4th. Bank of America decreased their target price on Sweetgreen from $27.00 to $22.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. cut their price target on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.31.

Sweetgreen Stock Performance

NYSE:SG opened at $14.32 on Friday. Sweetgreen, Inc. has a 1 year low of $11.86 and a 1 year high of $45.12. The stock has a fifty day moving average price of $13.62 and a two-hundred day moving average price of $20.76. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -18.59 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.21). The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned ($0.23) EPS. On average, analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current year.

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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