Blair William & Co. IL Has $17.22 Million Stock Holdings in Sweetgreen, Inc. $SG

Blair William & Co. IL grew its position in shares of Sweetgreen, Inc. (NYSE:SG) by 891.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,157,405 shares of the company’s stock after acquiring an additional 1,040,629 shares during the quarter. Blair William & Co. IL’s holdings in Sweetgreen were worth $17,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 30.0% in the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company’s stock worth $144,180,000 after purchasing an additional 1,330,094 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in Sweetgreen in the 1st quarter valued at $31,558,000. Durable Capital Partners LP lifted its position in Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company’s stock worth $113,218,000 after buying an additional 1,030,176 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Sweetgreen by 53.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,514,316 shares of the company’s stock worth $62,908,000 after buying an additional 874,942 shares during the last quarter. Finally, RPG Investment Advisory LLC bought a new position in shares of Sweetgreen in the 1st quarter valued at about $18,502,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SG shares. William Blair reiterated an “outperform” rating on shares of Sweetgreen in a report on Friday, September 5th. Piper Sandler dropped their price objective on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Morgan Stanley decreased their target price on shares of Sweetgreen from $22.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, July 14th. Barclays dropped their price target on shares of Sweetgreen from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $19.00 price objective on shares of Sweetgreen in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.73.

Sweetgreen Trading Down 4.9%

SG stock opened at $7.55 on Friday. Sweetgreen, Inc. has a 1-year low of $7.52 and a 1-year high of $45.12. The business’s 50 day simple moving average is $9.00 and its 200 day simple moving average is $13.76. The firm has a market capitalization of $891.89 million, a PE ratio of -8.98 and a beta of 1.97.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The company had revenue of $185.58 million for the quarter, compared to the consensus estimate of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the transaction, the chief financial officer directly owned 322,891 shares of the company’s stock, valued at $2,967,368.29. This represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.78% of the company’s stock.

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.