UBS Group AG Sells 140,300 Shares of Sweetgreen, Inc. $SG

Key Points

• UBS Group AG trimmed its Sweetgreen stake by 10.1% in the fourth quarter, selling 140,300 shares and leaving it with 1,245,321 shares worth about $8.4 million.
• Sweetgreen’s latest earnings missed expectations, reporting a loss of $0.27 per share versus the $0.23 estimate, while revenue of $161.5 million also came in slightly below forecasts.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $7.60; the stock last traded at $8.10 after recent target-price cuts from multiple firms.

UBS Group AG lowered its stake in Sweetgreen, Inc. (NYSE:SG - Free Report) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,245,321 shares of the company's stock after selling 140,300 shares during the quarter. UBS Group AG owned about 1.05% of Sweetgreen worth $8,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SG. Royal Bank of Canada raised its stake in shares of Sweetgreen by 22.4% in the first quarter. Royal Bank of Canada now owns 291,477 shares of the company's stock worth $7,292,000 after buying an additional 53,427 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sweetgreen by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company's stock worth $1,516,000 after buying an additional 3,553 shares during the period. Prudential Financial Inc. bought a new position in shares of Sweetgreen in the second quarter worth about $197,000. Qube Research & Technologies Ltd bought a new stake in Sweetgreen during the 2nd quarter valued at approximately $538,000. Finally, Frontier Capital Management Co. LLC raised its stake in Sweetgreen by 121.7% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company's stock valued at $10,122,000 after purchasing an additional 373,350 shares during the period. Institutional investors own 95.75% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SG shares. Morgan Stanley decreased their target price on Sweetgreen from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings raised Sweetgreen from a "sell (e+)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Piper Sandler decreased their target price on Sweetgreen from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. Royal Bank Of Canada decreased their target price on Sweetgreen from $8.00 to $7.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. Finally, The Goldman Sachs Group lifted their target price on Sweetgreen from $5.00 to $5.60 and gave the company a "sell" rating in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.60.

Sweetgreen Price Performance

NYSE SG opened at $8.10 on Monday. The stock has a market capitalization of $961.93 million, a PE ratio of 67.46 and a beta of 2.03. The business has a 50 day simple moving average of $6.07 and a two-hundred day simple moving average of $6.33. Sweetgreen, Inc. has a 1-year low of $4.49 and a 1-year high of $16.70.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $161.52 million for the quarter, compared to analysts' expectations of $163.95 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. On average, analysts anticipate that Sweetgreen, Inc. will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the company's stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average price of $5.69 per share, for a total transaction of $3,383,006.57. Following the acquisition, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. This trade represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicolas Jammet bought 4,428 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $5.71 per share, with a total value of $25,283.88. Following the acquisition, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding SG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sweetgreen, Inc. (NYSE:SG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.