Sweetgreen, Inc. $SG Shares Bought by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Sweetgreen stake by 495.3% in the first quarter, purchasing 161,209 additional shares and ending with 193,757 shares valued at approximately $1.01 million.
• Institutional ownership remains very high at 95.75%, with several hedge funds—including Woodson Capital, Marshall Wace and Federated Hermes—also substantially increasing their positions.
• Sweetgreen reported a quarterly loss of $0.22 per share, missing estimates by $0.09, while revenue rose 3.8% year over year to $192.66 million. Analysts’ consensus rating is “Hold,” with an average price target of $7.10.

Quantinno Capital Management LP raised its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 495.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,757 shares of the company's stock after purchasing an additional 161,209 shares during the period. Quantinno Capital Management LP owned 0.16% of Sweetgreen worth $1,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SG. Woodson Capital Management LP lifted its stake in Sweetgreen by 152.6% in the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company's stock valued at $40,560,000 after buying an additional 3,625,000 shares in the last quarter. Marshall Wace LLP boosted its holdings in Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company's stock worth $31,313,000 after buying an additional 3,667,306 shares during the last quarter. Federated Hermes Inc. increased its stake in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company's stock worth $17,900,000 after buying an additional 2,080,628 shares in the last quarter. Geode Capital Management LLC increased its stake in Sweetgreen by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company's stock worth $16,589,000 after buying an additional 16,281 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company's stock valued at $15,520,000 after acquiring an additional 603,029 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Stock Up 3.2%

Shares of NYSE:SG opened at $6.25 on Friday. Sweetgreen, Inc. has a 52-week low of $4.49 and a 52-week high of $10.63. The stock has a market cap of $743.03 million, a P/E ratio of 62.54 and a beta of 2.19. The business has a fifty day moving average of $7.43 and a two-hundred day moving average of $6.80.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The company had revenue of $192.66 million for the quarter, compared to analysts' expectations of $194.50 million. Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) EPS. On average, equities analysts anticipate that Sweetgreen, Inc. will post -0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SG shares. DA Davidson lowered their price target on Sweetgreen from $7.00 to $5.50 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Wells Fargo & Company reduced their price objective on Sweetgreen from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Friday, August 7th. UBS Group upgraded Sweetgreen from a "neutral" rating to a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada lowered their target price on shares of Sweetgreen from $7.00 to $6.50 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Sweetgreen in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.10.

About Sweetgreen

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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