Quantinno Capital Management LP Grows Stock Position in Sweetgreen, Inc. $SG

Quantinno Capital Management LP boosted its holdings in Sweetgreen, Inc. (NYSE:SG) by 495.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 193,757 shares of the company’s stock after acquiring an additional 161,209 shares during the period. Quantinno Capital Management LP’s holdings in Sweetgreen were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in Sweetgreen by 22.4% during the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock worth $7,292,000 after acquiring an additional 53,427 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sweetgreen by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock valued at $1,516,000 after purchasing an additional 3,553 shares during the period. Prudential Financial Inc. acquired a new position in shares of Sweetgreen in the 2nd quarter valued at $197,000. Qube Research & Technologies Ltd purchased a new position in shares of Sweetgreen during the 2nd quarter worth $538,000. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Sweetgreen by 121.7% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company’s stock worth $10,122,000 after purchasing an additional 373,350 shares during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SG. KeyCorp reissued a “sector weight” rating on shares of Sweetgreen in a research report on Monday, August 10th. Royal Bank Of Canada lowered their target price on shares of Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a research note on Friday, August 7th. BNP Paribas Exane lifted their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th. Oppenheimer reduced their price target on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.10.

Sweetgreen Trading Up 3.2%

Shares of NYSE SG opened at $6.25 on Friday. The stock has a market capitalization of $743.03 million, a PE ratio of 62.54 and a beta of 2.19. Sweetgreen, Inc. has a twelve month low of $4.49 and a twelve month high of $10.63. The stock has a fifty day simple moving average of $7.43 and a 200-day simple moving average of $6.80.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The firm had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same period in the previous year, the company posted ($0.20) EPS. Sweetgreen’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Sweetgreen, Inc. will post -0.98 earnings per share for the current year.

Sweetgreen Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.