Triumph Capital Management Invests $628,000 in Sweetgreen, Inc. $SG

Key Points

• Triumph Capital Management purchased 42,232 shares of Sweetgreen, Inc. for approximately $628,000, indicating strong interest from institutional investors in the company's stock.
• Sweetgreen recently reported a net loss of $0.20 per share, missing expectations, while its revenue of $185.58 million was below analyst predictions of $193.47 million.
• Analyst ratings for Sweetgreen show a mixed outlook, with a consensus rating of "Hold" and varying price targets ranging from $12.00 to $17.69.

Triumph Capital Management purchased a new position in Sweetgreen, Inc. (NYSE:SG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 42,232 shares of the company's stock, valued at approximately $628,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in Sweetgreen by 47.1% in 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 last quarter. GF Fund Management CO. LTD. acquired a new stake in Sweetgreen in the 1st quarter worth approximately $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company's stock worth $103,000 after buying an additional 1,700 shares during the last quarter. State of Wyoming lifted its holdings in shares of Sweetgreen by 98.1% during the fourth quarter. State of Wyoming now owns 5,534 shares of the company's stock worth $177,000 after buying an additional 2,741 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Sweetgreen in the fourth quarter valued at $228,000. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares in the company, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 19.78% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SG shares. Bank of America lowered their price target on Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. The Goldman Sachs Group decreased their price objective on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. Piper Sandler decreased their price target on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. UBS Group dropped their price objective on Sweetgreen from $19.00 to $13.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, TD Cowen lowered their target price on Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Sweetgreen has an average rating of "Hold" and a consensus price target of $17.69.

Sweetgreen Stock Down 0.7%

Shares of SG traded down $0.06 during trading hours on Friday, hitting $8.57. The company had a trading volume of 4,580,814 shares, compared to its average volume of 5,165,475. The firm has a market cap of $1.01 billion, a P/E ratio of -10.20 and a beta of 2.01. The stock's 50 day moving average price is $10.73 and its 200 day moving average price is $15.38. Sweetgreen, Inc. has a 52-week low of $8.11 and a 52-week high of $45.12.

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