Sweetgreen, Inc. $SG Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its position in Sweetgreen, Inc. (NYSE:SG) by 75.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 531,171 shares of the company’s stock after purchasing an additional 228,961 shares during the quarter. Citigroup Inc.’s holdings in Sweetgreen were worth $4,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SG. Nisa Investment Advisors LLC grew its holdings in Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after buying an additional 1,055 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Sweetgreen by 312.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after acquiring an additional 2,127 shares during the period. Bogart Wealth LLC grew its stake 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 worth $40,000 after purchasing an additional 4,600 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Sweetgreen during the third quarter valued at $82,000. Finally, Birch Financial Group LLC bought a new stake in shares of Sweetgreen during the third quarter valued at about $86,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Price Performance

SG stock opened at $5.52 on Thursday. The firm has a market cap of $653.40 million, a PE ratio of -4.84 and a beta of 1.93. Sweetgreen, Inc. has a 12 month low of $4.99 and a 12 month high of $27.15. The firm has a 50 day simple moving average of $6.45 and a 200 day simple moving average of $7.14.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. During the same period in the prior year, the company posted ($0.25) EPS. Sweetgreen’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SG has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sweetgreen in a research report on Monday, December 29th. Citigroup reiterated a “buy” rating on shares of Sweetgreen in a research note on Wednesday, November 12th. Oppenheimer dropped their target price on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Zacks Research raised Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, William Blair reiterated a “market perform” rating on shares of Sweetgreen in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Sweetgreen has an average rating of “Hold” and an average price target of $8.43.

About Sweetgreen

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.