Kingswood Wealth Advisors LLC Purchases Shares of 11,452 Sweetgreen, Inc. $SG

Kingswood Wealth Advisors LLC purchased a new stake in shares of Sweetgreen, Inc. (NYSE:SG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,452 shares of the company’s stock, valued at approximately $170,000.

Other large investors have also added to or reduced their stakes in the company. Spire Wealth Management grew its stake in Sweetgreen by 47.1% during the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock valued at $50,000 after purchasing an additional 635 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Sweetgreen in the first quarter worth about $71,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its stake in shares of Sweetgreen by 70.8% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after buying an additional 1,700 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sweetgreen by 3,776.6% in the first quarter. GAMMA Investing LLC now owns 10,583 shares of the company’s stock worth $265,000 after buying an additional 10,310 shares during the last quarter. Finally, LVW Advisors LLC purchased a new stake in shares of Sweetgreen in the second quarter worth about $159,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Activity at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the transaction, the chief financial officer owned 322,891 shares of the company’s stock, valued at $2,967,368.29. This 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 this hyperlink. 19.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SG. Bank of America restated a “neutral” rating and issued a $9.50 target price (down previously from $18.00) on shares of Sweetgreen in a research note on Monday, October 6th. UBS Group lowered their target price on Sweetgreen from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. TD Securities restated a “hold” rating and issued a $15.00 target price (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Wells Fargo & Company restated an “overweight” rating and issued a $19.00 target price on shares of Sweetgreen in a research note on Tuesday, July 1st. Finally, Piper Sandler lowered their price target on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sweetgreen currently has a consensus rating of “Hold” and a consensus target price of $16.73.

Sweetgreen Trading Down 4.9%

Shares of SG stock opened at $7.55 on Monday. The company has a market capitalization of $891.89 million, a P/E ratio of -8.98 and a beta of 1.97. The business’s 50 day moving average is $9.00 and its two-hundred day moving average is $13.58. Sweetgreen, Inc. has a 12-month low of $7.52 and a 12-month high of $45.12.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (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 business had revenue of $185.58 million for the quarter, compared to analysts’ expectations of $193.47 million. During the same quarter in the prior year, the company posted ($0.13) EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. On average, research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal 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.