Sweetgreen (NYSE:SG) Reaches New 1-Year Low – Here’s Why

Sweetgreen, Inc. (NYSE:SG)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $8.11 and last traded at $8.25, with a volume of 13652193 shares. The stock had previously closed at $8.93.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SG shares. Wells Fargo & Company reissued an “overweight” rating and set a $19.00 target price on shares of Sweetgreen in a research note on Tuesday, July 1st. UBS Group cut their price target on shares of Sweetgreen from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 8th. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, June 4th. Barclays dropped their target price on shares of Sweetgreen from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, August 8th. Finally, Bank of America dropped their target price on shares of Sweetgreen from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.69.

Sweetgreen Trading Down 7.7%

The stock’s fifty day moving average price is $11.69 and its 200 day moving average price is $16.21. The stock has a market cap of $974.64 million, a P/E ratio of -9.82 and a beta of 2.01.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The business had revenue of $185.58 million during the quarter, compared to analysts’ expectations of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. Sweetgreen’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS. Sweetgreen has set its FY 2025 guidance at EPS. On average, analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer directly owned 322,891 shares of the company’s stock, valued at approximately $2,967,368.29. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 19.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its position in Sweetgreen by 3.4% during the 1st quarter. Baillie Gifford & Co. now owns 11,707,090 shares of the company’s stock valued at $292,911,000 after acquiring an additional 386,141 shares during the period. Wellington Management Group LLP increased its stake in Sweetgreen by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company’s stock valued at $144,180,000 after purchasing an additional 1,330,094 shares in the last quarter. Durable Capital Partners LP increased its stake in Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock valued at $113,218,000 after purchasing an additional 1,030,176 shares in the last quarter. Spyglass Capital Management LLC increased its stake in Sweetgreen by 15.2% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after purchasing an additional 513,643 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in Sweetgreen by 89.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company’s stock valued at $38,205,000 after purchasing an additional 1,212,708 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

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.