Frontier Capital Management Co. LLC Raises Position in Sweetgreen, Inc. (NYSE:SG)

Frontier Capital Management Co. LLC raised its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 189.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,134,398 shares of the company's stock after buying an additional 743,157 shares during the period. Frontier Capital Management Co. LLC owned 0.98% of Sweetgreen worth $36,369,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position in shares of Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock valued at $336,000 after acquiring an additional 473 shares during the period. Cypress Wealth Services LLC grew its position in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock valued at $270,000 after acquiring an additional 483 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Sweetgreen by 45.7% during 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 period. Hillsdale Investment Management Inc. grew its position in shares of Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock valued at $1,608,000 after acquiring an additional 600 shares during the period. Finally, Oberweis Asset Management Inc. grew its position in shares of Sweetgreen by 0.6% during the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock valued at $3,084,000 after acquiring an additional 610 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

Wall Street Analyst Weigh In

SG has been the subject of a number of research reports. Citigroup reduced their target price on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $25.00 price objective (down from $32.00) on shares of Sweetgreen in a report on Tuesday, May 6th. Piper Sandler cut their price objective on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.18.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. The trade was a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the sale, the chief operating officer now directly owns 95,516 shares of the company's stock, valued at $2,273,280.80. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,852 shares of company stock valued at $871,417. Insiders own 21.52% of the company's stock.

Sweetgreen Price Performance

NYSE:SG traded down $2.84 during trading hours on Friday, hitting $15.33. The stock had a trading volume of 19,041,978 shares, compared to its average volume of 3,409,948. The company has a 50 day simple moving average of $21.74 and a two-hundred day simple moving average of $29.40. Sweetgreen, Inc. has a one year low of $14.61 and a one year high of $45.12. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -19.65 and a beta of 2.31.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same period last year, the firm earned ($0.23) EPS. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

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.