Vanguard Group Inc. Sells 74,138 Shares of Sweetgreen, Inc. $SG

Vanguard Group Inc. decreased its stake in Sweetgreen, Inc. (NYSE:SG) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,519,606 shares of the company’s stock after selling 74,138 shares during the period. Vanguard Group Inc. owned 8.04% of Sweetgreen worth $64,353,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after acquiring an additional 2,349 shares during the period. Bogart Wealth LLC raised its position in shares of Sweetgreen by 1,150.0% in the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after purchasing an additional 4,600 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Sweetgreen by 124.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after purchasing an additional 3,484 shares during the period. CWM LLC raised its position in shares of Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares during the period. Finally, Eastern Bank raised its position in shares of Sweetgreen by 228.5% in the fourth quarter. Eastern Bank now owns 8,780 shares of the company’s stock valued at $59,000 after purchasing an additional 6,107 shares during the period. Institutional investors own 95.75% of the company’s stock.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet acquired 4,428 shares of the stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the acquisition, the insider owned 22,543 shares in the company, valued at $128,720.53. The trade was a 24.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Goldman Sachs Group Inc acquired 594,553 shares of the stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the acquisition, the insider owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. The trade was a 5.26% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 19.78% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG opened at $6.90 on Friday. The firm has a market cap of $819.13 million, a price-to-earnings ratio of 57.46 and a beta of 2.03. Sweetgreen, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $16.70. The firm has a 50 day moving average price of $6.02 and a 200-day moving average price of $6.32.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. As a group, equities research analysts predict that Sweetgreen, Inc. will post -0.76 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on SG. TD Cowen boosted their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company a “hold” rating in a research report on Friday, May 8th. UBS Group boosted their price target on shares of Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Morgan Stanley lowered their price target on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings raised shares of Sweetgreen from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday. Finally, Royal Bank Of Canada lowered their price target on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.60.

Sweetgreen Company 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.