Wellington Management Group LLP Buys 1,330,094 Shares of Sweetgreen, Inc. $SG

Key Points

• Wellington Management Group LLP increased its position in Sweetgreen, Inc. by 30.0% during the first quarter, now owning 5,762,598 shares valued at approximately $144 million.
• Several other institutional investors, including Tower Research Capital and Generali Investments, also significantly boosted their stakes in Sweetgreen, reflecting growing confidence in the company.
• Sweetgreen's stock has faced downward pressure, recently trading at about $9.03, with price targets from analysts ranging as low as $10.00 and indicating a consensus rating of "Hold."

Wellington Management Group LLP lifted its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,762,598 shares of the company's stock after acquiring an additional 1,330,094 shares during the quarter. Wellington Management Group LLP owned approximately 4.91% of Sweetgreen worth $144,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SG. Massachusetts Financial Services Co. MA increased its stake 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 valued at $62,908,000 after buying an additional 874,942 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Sweetgreen by 189.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock valued at $36,369,000 after acquiring an additional 743,157 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Sweetgreen by 848.5% during the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock valued at $24,000,000 after acquiring an additional 669,657 shares during the last quarter. Granahan Investment Management LLC increased its position in shares of Sweetgreen by 184.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,022,397 shares of the company's stock valued at $32,778,000 after acquiring an additional 663,347 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in Sweetgreen by 52.1% during the first quarter. Stephens Investment Management Group LLC now owns 1,354,818 shares of the company's stock worth $33,898,000 after acquiring an additional 464,013 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Price Performance

Shares of SG traded up $0.05 during trading hours on Tuesday, hitting $9.15. The company's stock had a trading volume of 3,416,418 shares, compared to its average volume of 7,445,451. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -10.89 and a beta of 2.04. The business has a 50 day simple moving average of $12.45 and a two-hundred day simple moving average of $17.32. Sweetgreen, Inc. has a 52-week low of $8.45 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) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The business had revenue of $185.58 million for the quarter, compared to analysts' expectations of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. Research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of the firm's 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 transaction, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Cowen decreased their target price on Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Morgan Stanley reduced their price target on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. JPMorgan Chase & Co. lowered 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. Piper Sandler dropped their target price on shares of Sweetgreen from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Finally, Barclays reduced their target price on shares of Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.69.

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.