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 raised its position in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 30.0% during the 1st quarter, according to 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 period. Wellington Management Group LLP owned approximately 4.91% of Sweetgreen worth $144,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SG. Massachusetts Financial Services Co. MA raised its holdings in shares of Sweetgreen by 53.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company's stock worth $62,908,000 after acquiring an additional 874,942 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Sweetgreen by 189.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after acquiring an additional 743,157 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Sweetgreen by 848.5% during the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock worth $24,000,000 after acquiring an additional 669,657 shares in the last quarter. Granahan Investment Management LLC raised its holdings in shares of Sweetgreen by 184.8% during the 4th quarter. Granahan Investment Management LLC now owns 1,022,397 shares of the company's stock worth $32,778,000 after acquiring an additional 663,347 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Sweetgreen by 52.1% during the 1st 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 in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SG has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. UBS Group decreased their price target on Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Friday, August 8th. TD Securities restated a "hold" rating and set a $15.00 price target (down previously from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. 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. Finally, Oppenheimer decreased their price target on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.69.

Sweetgreen Stock Performance

SG stock traded up $0.3270 during midday trading on Friday, reaching $9.3070. The company's stock had a trading volume of 6,061,974 shares, compared to its average volume of 7,450,750. The stock has a fifty day simple moving average of $12.58 and a two-hundred day simple moving average of $17.61. Sweetgreen, Inc. has a 1 year low of $8.45 and a 1 year high of $45.12. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.08 and a beta of 2.04.

Sweetgreen (NYSE:SG - Get Free Report) last released 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 return on equity of 22.21% and a negative net margin of 14.29%.The business had revenue of $185.58 million during the quarter, compared to analysts' expectations of $193.47 million. During the same quarter in the previous year, the business earned ($0.13) EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. As a group, analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal 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 transaction of $105,960.70. Following the transaction, the chief financial officer owned 322,891 shares in the company, valued at approximately $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 19.78% of the company's stock.

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.