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

SG Americas Securities LLC reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 61.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP bought a new position in Sweetgreen in the third quarter worth about $2,037,000. Ibex Investors LLC grew its position in shares of Sweetgreen by 5,058.7% in the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after buying an additional 809,400 shares during the last quarter. Capelight Capital Asset Management LP bought a new position in shares of Sweetgreen during the 4th quarter worth approximately $676,000. Spyglass Capital Management LLC lifted its position in Sweetgreen by 4.0% during the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after acquiring an additional 156,757 shares during the last quarter. Finally, MYDA Advisors LLC purchased a new stake in Sweetgreen during the fourth quarter valued at approximately $676,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

NYSE SG opened at $8.37 on Friday. The company has a market cap of $994.01 million, a price-to-earnings ratio of 69.71 and a beta of 2.17. The stock’s fifty day moving average price is $8.38 and its 200 day moving average price is $6.96. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $16.70.

Sweetgreen (NYSE:SG) last issued its quarterly 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). The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.94 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. Research analysts expect that Sweetgreen, Inc. will post -0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SG has been the topic of several analyst reports. Oppenheimer lifted their price target on shares of Sweetgreen from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. BNP Paribas Exane increased their price objective on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised Sweetgreen from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $13.00 in a research report on Friday, May 22nd. DA Davidson boosted their target price on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, TD Cowen upped their target price on Sweetgreen from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.57.

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.