Voya Investment Management LLC Has $787,000 Stake in Sweetgreen, Inc. $SG

Key Points

• Voya Investment Management LLC significantly reduced its stake in Sweetgreen, Inc., lowering its position by 95.8% to 31,458 shares worth approximately $787,000.
• Sweetgreen reported a loss of ($0.20) earnings per share, missing analysts' expectations and seeing a revenue of $185.58 million during the last quarter, which is up 0.5% year-over-year.
• Research analysts have downgraded their price targets for Sweetgreen, with UBS cutting theirs from $19.00 to $13.00, reflecting a more cautious outlook on the stock.

Voya Investment Management LLC lowered its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 95.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,458 shares of the company's stock after selling 717,123 shares during the quarter. Voya Investment Management LLC's holdings in Sweetgreen were worth $787,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SG. Spire Wealth Management boosted its position in shares of Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after purchasing an additional 635 shares in the last quarter. Forum Financial Management LP lifted its stake in Sweetgreen by 17.5% in the fourth quarter. Forum Financial Management LP now owns 8,112 shares of the company's stock valued at $260,000 after buying an additional 1,209 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sweetgreen by 4.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock worth $936,000 after buying an additional 1,278 shares in the last quarter. Cypress Wealth Services LLC boosted its holdings in shares of Sweetgreen by 16.3% during the 1st quarter. Cypress Wealth Services LLC now owns 9,793 shares of the company's stock worth $245,000 after buying an additional 1,370 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position 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 period. 95.75% of the stock is owned by institutional investors.

Sweetgreen Stock Performance

Shares of SG opened at $8.33 on Thursday. The firm has a market capitalization of $984.10 million, a P/E ratio of -9.91 and a beta of 2.01. Sweetgreen, Inc. has a 52 week low of $8.11 and a 52 week high of $45.12. The stock has a 50 day moving average price of $10.45 and a two-hundred day moving average price of $15.13.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results 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). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The company had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same quarter in the prior year, the business earned ($0.13) EPS. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. William Blair reiterated an "outperform" rating on shares of Sweetgreen in a report on Friday, September 5th. JPMorgan Chase & Co. cut their price objective on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. Morgan Stanley decreased their target price on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Finally, Barclays dropped their price target on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Seven 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.com, the stock has a consensus rating of "Hold" and an average price target of $17.69.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of Sweetgreen stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.78% of the stock is owned by corporate insiders.

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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