Vanguard Group Inc. Decreases Position in Sweetgreen, Inc. $SG

Key Points

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Vanguard Group Inc. decreased its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,375,794 shares of the company's stock after selling 169,091 shares during the period. Vanguard Group Inc. owned approximately 7.99% of Sweetgreen worth $234,582,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in 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 last quarter. Spire Wealth Management increased its holdings in shares of Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after buying an additional 635 shares during the last quarter. Thematics Asset Management acquired a new stake in shares of Sweetgreen during the 4th quarter worth approximately $69,000. GF Fund Management CO. LTD. acquired a new stake in shares of Sweetgreen during the 1st quarter worth approximately $71,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in shares of Sweetgreen by 70.8% during the 1st 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. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Price Performance

Shares of NYSE:SG traded up $0.3270 during mid-day trading on Friday, reaching $9.3070. 6,061,974 shares of the company were exchanged, compared to its average volume of 7,450,750. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -11.08 and a beta of 2.04. The firm's 50-day simple moving average is $12.58 and its 200 day simple moving average is $17.61. Sweetgreen, Inc. has a 1 year low of $8.45 and a 1 year high of $45.12.

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

Insider Buying and Selling at Sweetgreen

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SG. Wells Fargo & Company restated an "overweight" rating and set a $19.00 price target on shares of Sweetgreen in a report on Tuesday, July 1st. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. Bank of America cut their price target 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. Royal Bank Of Canada cut their price target on shares of Sweetgreen from $25.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Morgan Stanley cut their price target on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a report on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of "Hold" and an average price target of $17.69.

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.