Quantbot Technologies LP Purchases Shares of 398,126 Sweetgreen, Inc. $SG

Quantbot Technologies LP acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 398,126 shares of the company’s stock, valued at approximately $3,177,000. Quantbot Technologies LP owned about 0.34% of Sweetgreen at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its holdings 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 purchasing an additional 53,427 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sweetgreen by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock worth $1,516,000 after acquiring an additional 3,553 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Sweetgreen by 98.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after acquiring an additional 1,055 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Sweetgreen by 40.2% during the 2nd quarter. Bessemer Group Inc. now owns 28,378 shares of the company’s stock worth $422,000 after acquiring an additional 8,130 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Sweetgreen in the 2nd quarter valued at $962,000. 95.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

SG has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. UBS Group reduced their target price on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Monday, February 23rd. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Barclays boosted their price objective on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Finally, Oppenheimer decreased their target price on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Sweetgreen has an average rating of “Hold” and an average price target of $8.43.

Sweetgreen Stock Down 2.9%

Shares of Sweetgreen stock opened at $5.39 on Tuesday. The stock has a market capitalization of $638.01 million, a price-to-earnings ratio of -4.73 and a beta of 1.93. Sweetgreen, Inc. has a twelve month low of $4.99 and a twelve month high of $27.15. The company has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $7.18.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Sweetgreen had a negative return on equity of 31.09% and a negative net margin of 19.73%.The business had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. During the same period in the prior year, the business posted ($0.25) earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal 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.