Federated Hermes Inc. Makes New $4.53 Million Investment in Sweetgreen, Inc. $SG

Federated Hermes Inc. acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 567,271 shares of the company’s stock, valued at approximately $4,527,000.

A number of other institutional investors have also recently made changes to their positions in the company. Greenhouse Funds LLLP purchased a new stake in shares of Sweetgreen in the second quarter worth about $32,122,000. Stephens Investment Management Group LLC grew its holdings in Sweetgreen by 89.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company’s stock valued at $38,205,000 after buying an additional 1,212,708 shares in the last quarter. Blair William & Co. IL increased its stake in Sweetgreen by 891.1% in the 2nd quarter. Blair William & Co. IL now owns 1,157,405 shares of the company’s stock worth $17,222,000 after acquiring an additional 1,040,629 shares during the last quarter. Spyglass Capital Management LLC increased its stake in Sweetgreen by 15.2% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock worth $58,029,000 after acquiring an additional 513,643 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sweetgreen by 6,495.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 496,616 shares of the company’s stock worth $7,390,000 after acquiring an additional 489,086 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.2%

Sweetgreen stock opened at $6.13 on Tuesday. Sweetgreen, Inc. has a 12-month low of $5.14 and a 12-month high of $33.80. The firm has a 50-day moving average price of $6.97 and a 200-day moving average price of $8.16. The firm has a market capitalization of $725.02 million, a PE ratio of -6.31 and a beta of 1.92.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). The firm had revenue of $172.39 million during the quarter, compared to analysts’ expectations of $179.29 million. Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned ($0.18) earnings per share. As a group, sell-side analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SG shares. William Blair reissued a “market perform” rating on shares of Sweetgreen in a report on Friday, November 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $8.00 price objective on shares of Sweetgreen in a research report on Tuesday, December 9th. Piper Sandler dropped their price objective on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Sweetgreen in a report on Monday, December 29th. Finally, Barclays increased their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.83.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet bought 18,115 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider owned 18,115 shares in the company, valued at $99,813.65. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman bought 179,800 shares of the stock in a transaction dated Wednesday, November 12th. The shares were bought at an average cost of $5.56 per share, with a total value of $999,688.00. Following the completion of the purchase, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at approximately $999,688. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 19.78% of the stock is currently owned by company insiders.

Sweetgreen Company 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.