Vanguard Group Inc. Grows Holdings in Sweetgreen, Inc. $SG

Vanguard Group Inc. grew its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,593,744 shares of the company’s stock after buying an additional 129,572 shares during the quarter. Vanguard Group Inc. owned 0.08% of Sweetgreen worth $76,558,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SG. Nisa Investment Advisors LLC grew its position in Sweetgreen by 98.2% in the second 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 in the last quarter. Bogart Wealth LLC boosted its holdings in shares of Sweetgreen by 1,150.0% in the 3rd 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. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Sweetgreen by 312.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after purchasing an additional 2,127 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Sweetgreen during the 3rd quarter valued at about $82,000. Finally, Birch Financial Group LLC bought a new position in shares of Sweetgreen during the 3rd quarter valued at about $86,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen Stock Down 1.9%

Shares of SG opened at $5.64 on Friday. The stock has a market capitalization of $667.61 million, a P/E ratio of -4.95 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 firm has a fifty day simple moving average of $6.39 and a two-hundred day simple moving average of $7.11.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SG. The Goldman Sachs Group boosted their target price on Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Wells Fargo & Company downgraded shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $10.00 to $7.00 in a research note on Wednesday, December 17th. Oppenheimer lowered their price target on shares of Sweetgreen from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Zacks Research upgraded Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Piper Sandler reduced their price target on Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.22.

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.