Sweetgreen, Inc. (NYSE:SG) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,664 shares of the company's stock after purchasing an additional 20,034 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.33% of Sweetgreen worth $9,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its stake in shares of Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after acquiring an additional 741 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 valued at $50,000 after acquiring an additional 494 shares during the period. Spire Wealth Management boosted its holdings 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 last quarter. Millstone Evans Group LLC purchased a new stake in shares of Sweetgreen during the 4th quarter worth about $53,000. Finally, Thematics Asset Management acquired a new position in shares of Sweetgreen during the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Insider Activity at Sweetgreen

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

Analyst Ratings Changes

A number of research firms have commented on SG. Bank of America cut their price objective 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. Barclays increased their price objective on shares of Sweetgreen from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Oppenheimer dropped their price target on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. UBS Group dropped their price target on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $19.00 price target on shares of Sweetgreen in a research note on Tuesday, July 1st. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $23.31.

Sweetgreen Trading Down 12.1%

Shares of Sweetgreen stock traded down $1.98 on Thursday, reaching $14.29. 3,898,498 shares of the stock were exchanged, compared to its average volume of 4,487,959. Sweetgreen, Inc. has a 1-year low of $11.86 and a 1-year high of $45.12. The business has a fifty day moving average price of $13.63 and a two-hundred day moving average price of $20.90. The firm has a market capitalization of $1.68 billion, a PE ratio of -18.55 and a beta of 2.06.

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

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.