DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Stock Holdings in Sweetgreen, Inc. (NYSE:SG)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main decreased its holdings in Sweetgreen, Inc. (NYSE:SG) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,721 shares of the company’s stock after selling 2,539 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Sweetgreen were worth $568,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Sweetgreen by 1,399.0% in the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock valued at $4,365,000 after purchasing an additional 103,664 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Sweetgreen in the fourth quarter valued at about $1,182,000. PSI Advisors LLC raised its position in Sweetgreen by 64.0% during the 4th quarter. PSI Advisors LLC now owns 11,008 shares of the company’s stock worth $353,000 after buying an additional 4,295 shares during the last quarter. Cox Capital Mgt LLC lifted its holdings in Sweetgreen by 76.0% in the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock valued at $1,728,000 after acquiring an additional 23,278 shares during the period. Finally, Cypress Wealth Services LLC raised its holdings in Sweetgreen by 6.1% in the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after purchasing an additional 483 shares during the period. Institutional investors own 95.75% of the company’s stock.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now owns 344,055 shares in the company, valued at approximately $9,093,373.65. The trade was a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rossann Williams sold 4,977 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the transaction, the chief operating officer now owns 95,516 shares of the company’s stock, valued at approximately $2,273,280.80. The trade was a 4.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,852 shares of company stock valued at $871,417 over the last quarter. 21.52% of the stock is owned by insiders.

Sweetgreen Price Performance

SG stock opened at $15.33 on Monday. Sweetgreen, Inc. has a 1 year low of $14.61 and a 1 year high of $45.12. The firm has a market capitalization of $1.80 billion, a P/E ratio of -19.65 and a beta of 2.31. The business’s 50-day moving average is $21.74 and its two-hundred day moving average is $29.40.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on SG. UBS Group cut their price target on Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 5th. Piper Sandler reduced their target price on shares of Sweetgreen from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday. Oppenheimer decreased their target price on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday. Citigroup cut their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, 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 report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.18.

Sweetgreen 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.