MetLife Investment Management LLC Raises Stock Position in Sweetgreen, Inc. (NYSE:SG)

MetLife Investment Management LLC boosted its position in shares of Sweetgreen, Inc. (NYSE:SG) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,444 shares of the company’s stock after purchasing an additional 3,265 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Sweetgreen worth $1,938,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SG. Tidal Investments LLC raised its stake in Sweetgreen by 848.2% during the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock worth $9,576,000 after purchasing an additional 241,652 shares during the period. Franklin Resources Inc. raised its stake in shares of Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock valued at $4,365,000 after acquiring an additional 103,664 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Sweetgreen by 37.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company’s stock valued at $23,789,000 after acquiring an additional 181,805 shares during the period. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Sweetgreen by 3.9% in the 4th quarter. Oliver Luxxe Assets LLC now owns 57,841 shares of the company’s stock valued at $1,854,000 after acquiring an additional 2,196 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Price Performance

Sweetgreen stock opened at $19.27 on Tuesday. Sweetgreen, Inc. has a 1-year low of $16.29 and a 1-year high of $45.12. The stock has a market cap of $2.26 billion, a PE ratio of -24.70 and a beta of 2.28. The stock’s fifty day moving average is $22.43 and its two-hundred day moving average is $30.55.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares in the company, valued at $42,485,356.20. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rossann Williams sold 4,977 shares of the firm’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 $118,452.60. Following the completion of the sale, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. This represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 over the last ninety days. Corporate insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SG shares. TD Securities reduced their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Citigroup reduced their price target 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 target on shares of Sweetgreen in a research note on Tuesday, February 25th. Piper Sandler dropped their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, UBS Group dropped their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and a consensus target price of $35.91.

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.