SG Americas Securities LLC Sells 93,661 Shares of Sweetgreen, Inc. $SG

SG Americas Securities LLC lessened its holdings in Sweetgreen, Inc. (NYSE:SG) by 61.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,105 shares of the company’s stock after selling 93,661 shares during the quarter. SG Americas Securities LLC’s holdings in Sweetgreen were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC boosted its stake in shares of Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares during the period. CWM LLC grew its holdings in shares of Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after purchasing an additional 4,984 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares during the period. Eastern Bank increased its stake in Sweetgreen by 228.5% in the 4th quarter. Eastern Bank now owns 8,780 shares of the company’s stock worth $59,000 after buying an additional 6,107 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Sweetgreen by 134.8% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 10,800 shares of the company’s stock worth $73,000 after buying an additional 6,200 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SG shares. UBS Group boosted their price objective 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. TD Cowen raised their target price on shares of Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. DA Davidson boosted their price target on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Oppenheimer increased their price objective on Sweetgreen from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sweetgreen has an average rating of “Hold” and an average price target of $7.57.

Sweetgreen Price Performance

SG stock opened at $8.37 on Friday. Sweetgreen, Inc. has a 1-year low of $4.49 and a 1-year high of $16.70. The business has a 50-day moving average price of $8.38 and a 200 day moving average price of $6.96. The company has a market capitalization of $994.01 million, a P/E ratio of 69.71 and a beta of 2.17.

Sweetgreen (NYSE:SG) last posted its earnings results on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $163.94 million. During the same period last year, the business posted ($0.21) EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts anticipate that Sweetgreen, Inc. will post -0.76 earnings per share for the current fiscal year.

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.