Connor Clark & Lunn Investment Management Ltd. Purchases 23,365 Shares of Sweetgreen, Inc. (NYSE:SG)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sweetgreen, Inc. (NYSE:SG) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,752 shares of the company’s stock after buying an additional 23,365 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Sweetgreen worth $3,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its position in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the period. Denver PWM LLC acquired a new position in Sweetgreen during the fourth quarter worth $60,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen during the fourth quarter valued at $62,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Sweetgreen in the 4th quarter valued at $77,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Sweetgreen in the 4th quarter worth about $83,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Up 1.5 %

NYSE:SG opened at $24.16 on Tuesday. Sweetgreen, Inc. has a 1 year low of $18.77 and a 1 year high of $45.12. The stock has a 50-day moving average price of $27.94 and a two-hundred day moving average price of $33.22. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -30.97 and a beta of 2.44.

Analyst Ratings Changes

Several brokerages have weighed in on SG. UBS Group decreased their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Citigroup dropped their price target on Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Oppenheimer reduced their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler lowered their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, TD Securities reduced their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.27.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the transaction, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.52% of the company’s stock.

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.