Wellington Management Group LLP Purchases Shares of 517,202 Sweetgreen, Inc. $SG

Wellington Management Group LLP acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 517,202 shares of the company’s stock, valued at approximately $4,557,000.

Several other hedge funds also recently modified their holdings of SG. Larson Financial Group LLC raised its stake in shares of Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after acquiring an additional 2,349 shares during the last quarter. Fifth Third Bancorp bought a new stake in Sweetgreen during the 1st quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd increased its holdings in Sweetgreen by 281.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after purchasing an additional 5,839 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in Sweetgreen during the 1st quarter valued at $56,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in Sweetgreen in the 4th quarter valued at $77,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG opened at $6.70 on Thursday. The firm has a market capitalization of $798.04 million, a price-to-earnings ratio of 67.05 and a beta of 2.20. The business’s fifty day moving average price is $6.71 and its two-hundred day moving average price is $6.91. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $10.63.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The firm had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that Sweetgreen, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

SG has been the subject of a number of research reports. TD Cowen lowered their target price on Sweetgreen from $8.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, August 7th. UBS Group upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating in a research report on Friday, August 7th. KeyCorp raised shares of Sweetgreen from a “sector weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a report on Tuesday. Wells Fargo & Company lowered their price objective on shares of Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Finally, Citigroup lowered their price objective on shares of Sweetgreen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Sweetgreen currently has a consensus rating of “Hold” and an average price target of $7.21.

Insider Transactions at Sweetgreen

In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $29,863.89. Following the transaction, the chief operating officer directly owned 207,076 shares in the company, valued at approximately $1,285,941.96. This represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $93,354.93. Following the completion of the transaction, the chief financial officer directly owned 210,489 shares in the company, valued at $1,307,136.69. This trade represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is 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.