Teachers Retirement System of The State of Kentucky Buys 20,034 Shares of Sweetgreen, Inc. (NYSE:SG)

Teachers Retirement System of The State of Kentucky boosted its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 382,664 shares of the company's stock after purchasing an additional 20,034 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.33% of Sweetgreen worth $9,575,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its stake in shares of Sweetgreen by 50.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company's stock worth $332,000 after purchasing an additional 4,474 shares in the last quarter. Stifel Financial Corp increased its stake in Sweetgreen by 55.3% in the fourth quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock worth $403,000 after purchasing an additional 4,474 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Sweetgreen by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock valued at $936,000 after buying an additional 1,278 shares during the period. Envestnet Asset Management Inc. raised its position in Sweetgreen by 54.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after purchasing an additional 5,783 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in Sweetgreen by 400.1% during the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock worth $1,911,000 after acquiring an additional 47,676 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Stock Up 5.6%

SG stock opened at $14.35 on Monday. Sweetgreen, Inc. has a twelve month low of $11.86 and a twelve month high of $45.12. The business's fifty day moving average is $13.66 and its 200-day moving average is $21.11. The company has a market cap of $1.68 billion, a P/E ratio of -18.64 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting 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 analyst estimates of $164.68 million. During the same period last year, the business posted ($0.23) earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction 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 sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Clifford Burrows bought 19,200 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the transaction, the director directly owned 19,200 shares of the company's stock, valued at $251,712. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.52% of the company's stock.

Analyst Ratings Changes

SG has been the topic of a number of research analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $19.00 price objective on shares of Sweetgreen in a report on Tuesday, July 1st. Oppenheimer reduced their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. 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. UBS Group dropped their price objective 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, Barclays raised their price objective on shares of Sweetgreen from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Thursday. 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, the stock presently has an average rating of "Hold" and an average price target of $23.31.

Sweetgreen 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.

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