Vanguard Group Inc. Boosts Stock Position in Sweetgreen, Inc. (NYSE:SG)

Vanguard Group Inc. boosted its stake in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,126,030 shares of the company's stock after acquiring an additional 245,255 shares during the quarter. Vanguard Group Inc. owned 7.23% of Sweetgreen worth $95,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SG. Teachers Retirement System of The State of Kentucky raised its stake in shares of Sweetgreen by 100.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 298,585 shares of the company's stock valued at $3,508,000 after acquiring an additional 149,871 shares during the last quarter. American Century Companies Inc. raised its position in Sweetgreen by 119.1% in the 3rd quarter. American Century Companies Inc. now owns 59,477 shares of the company's stock valued at $699,000 after purchasing an additional 32,328 shares during the last quarter. Deutsche Bank AG boosted its stake in Sweetgreen by 17.3% in the third quarter. Deutsche Bank AG now owns 46,532 shares of the company's stock worth $547,000 after purchasing an additional 6,849 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Sweetgreen during the third quarter worth $477,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sweetgreen by 22.3% in the third quarter. The Manufacturers Life Insurance Company now owns 46,371 shares of the company's stock valued at $545,000 after buying an additional 8,460 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on SG shares. Oppenheimer upped their price target on shares of Sweetgreen from $17.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday. TD Cowen increased their price target on shares of Sweetgreen from $15.00 to $17.00 and gave the company a "market perform" rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Sweetgreen from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Royal Bank of Canada upped their price objective on Sweetgreen from $13.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. Finally, Piper Sandler lifted their target price on Sweetgreen from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.88.

Sweetgreen Stock Performance

NYSE:SG traded up $1.43 on Friday, reaching $25.41. The company's stock had a trading volume of 1,620,149 shares, compared to its average volume of 2,261,486. Sweetgreen, Inc. has a 1-year low of $6.74 and a 1-year high of $26.45. The firm has a market cap of $2.87 billion, a PE ratio of -25.29 and a beta of 2.20. The business's 50-day moving average price is $16.90 and its two-hundred day moving average price is $12.83.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The company had revenue of $153.00 million for the quarter, compared to analyst estimates of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The business's quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) earnings per share. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.65 EPS for the current year.

Insider Transactions at Sweetgreen

In other news, insider Adrienne Gemperle sold 4,000 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.00, for a total transaction of $64,000.00. Following the transaction, the insider now directly owns 129,407 shares in the company, valued at approximately $2,070,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Adrienne Gemperle sold 4,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the transaction, the insider now owns 129,407 shares in the company, valued at approximately $2,070,512. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 10,288 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the transaction, the chief financial officer now owns 432,393 shares in the company, valued at approximately $5,188,716. The disclosure for this sale can be found here. Insiders have sold a total of 145,555 shares of company stock worth $2,266,739 in the last 90 days. Corporate insiders own 22.03% 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.