Thematics Asset Management Buys 38,237 Shares of Sweetgreen, Inc. $SG

Key Points

• Thematics Asset Management significantly increased its stake in Sweetgreen, Inc. by 1,776.8%, acquiring 38,237 additional shares, bringing its total holdings to 40,389 shares valued at over $1 million.
• Sweetgreen reported a quarterly loss of ($0.20) EPS, missing the consensus estimate by ($0.08), with revenue of $185.58 million, below expectations of $193.47 million.
• Analysts have lowered price targets for Sweetgreen, with Morgan Stanley reducing its target from $22 to $17, indicating a range of sentiment with a mix of Buy and Hold ratings among various research firms.

Thematics Asset Management lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 1,776.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 40,389 shares of the company's stock after acquiring an additional 38,237 shares during the period. Thematics Asset Management's holdings in Sweetgreen were worth $1,011,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SG. Wellington Management Group LLP lifted its holdings in shares of Sweetgreen by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after acquiring an additional 1,330,094 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Sweetgreen by 53.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company's stock worth $62,908,000 after purchasing an additional 874,942 shares during the period. Frontier Capital Management Co. LLC raised its position in Sweetgreen by 189.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after purchasing an additional 743,157 shares during the period. RPG Investment Advisory LLC purchased a new position in Sweetgreen in the 1st quarter worth $18,502,000. Finally, Voya Investment Management LLC raised its position in Sweetgreen by 848.5% in the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock worth $24,000,000 after purchasing an additional 669,657 shares during the period. 95.75% of the stock is owned by institutional investors.

Sweetgreen Price Performance

NYSE:SG opened at $9.3070 on Monday. Sweetgreen, Inc. has a one year low of $8.45 and a one year high of $45.12. The company's 50-day simple moving average is $12.58 and its 200 day simple moving average is $17.52. The firm has a market capitalization of $1.10 billion, a P/E ratio of -11.08 and a beta of 2.04.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The business had revenue of $185.58 million for the quarter, compared to the consensus estimate of $193.47 million. During the same period in the previous year, the firm earned ($0.13) EPS. The company's revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SG has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Barclays cut their price target on shares of Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. cut their target price on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $19.00 target price on shares of Sweetgreen in a research note on Tuesday, July 1st. Finally, The Goldman Sachs Group cut their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.69.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 11,530 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the sale, the chief financial officer owned 322,891 shares of the company's stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.78% of the stock is owned by insiders.

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.

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