LVW Advisors LLC Purchases Shares of 10,683 Sweetgreen, Inc. $SG

LVW Advisors LLC acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,683 shares of the company’s stock, valued at approximately $159,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company’s stock worth $144,180,000 after buying an additional 1,330,094 shares during the period. Champlain Investment Partners LLC purchased a new position in shares of Sweetgreen during the 1st quarter worth about $31,558,000. Durable Capital Partners LP lifted its holdings in shares of Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock worth $113,218,000 after acquiring an additional 1,030,176 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Sweetgreen by 53.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company’s stock worth $62,908,000 after acquiring an additional 874,942 shares during the last quarter. Finally, RPG Investment Advisory LLC purchased a new stake in Sweetgreen in the first quarter valued at approximately $18,502,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SG shares. William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research note on Friday, September 5th. TD Cowen cut their target price on Sweetgreen from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. Bank of America reduced their target price on Sweetgreen from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 18th. TD Securities restated a “hold” rating and set a $15.00 price target (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada cut their price objective on Sweetgreen from $25.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Sweetgreen presently has a consensus rating of “Hold” and a consensus price target of $17.69.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares of the company’s stock, valued at $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.78% of the stock is currently owned by corporate insiders.

Sweetgreen Trading Down 0.6%

Shares of Sweetgreen stock opened at $8.13 on Monday. The company has a fifty day moving average price of $10.21 and a 200 day moving average price of $14.77. Sweetgreen, Inc. has a twelve month low of $8.01 and a twelve month high of $45.12. The stock has a market cap of $960.46 million, a price-to-earnings ratio of -9.67 and a beta of 2.01.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The company had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. Analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Sweetgreen Company 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.