Graham Capital Management L.P. Acquires 21,512 Shares of Sweetgreen, Inc. (NYSE:SG)

Graham Capital Management L.P. raised its holdings in Sweetgreen, Inc. (NYSE:SG) by 26.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,122 shares of the company’s stock after acquiring an additional 21,512 shares during the quarter. Graham Capital Management L.P. owned approximately 0.09% of Sweetgreen worth $3,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sweetgreen in the fourth quarter valued at approximately $52,558,000. Invesco Ltd. lifted its holdings in shares of Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after buying an additional 1,601,666 shares during the period. Wellington Management Group LLP grew its position in shares of Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after buying an additional 1,025,341 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Sweetgreen by 189.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock valued at $36,369,000 after buying an additional 743,157 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Sweetgreen by 848.5% in the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock valued at $24,000,000 after acquiring an additional 669,657 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Activity

In other news, CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $136,064.60. Following the sale, the chief executive officer now directly owns 1,810,263 shares of the company’s stock, valued at $43,084,259.40. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,852 shares of company stock valued at $871,417. Company insiders own 21.52% of the company’s stock.

Sweetgreen Stock Down 15.6 %

Shares of Sweetgreen stock opened at $15.33 on Friday. The company has a 50 day moving average price of $21.74 and a 200 day moving average price of $29.45. The firm has a market capitalization of $1.80 billion, a P/E ratio of -19.65 and a beta of 2.31. Sweetgreen, Inc. has a 52 week low of $14.61 and a 52 week high of $45.12.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SG shares. UBS Group dropped their target price on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Citigroup dropped their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Sweetgreen in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group cut their price target on Sweetgreen from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.18.

Sweetgreen Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.