Key Points
- Nicolas Jammet, a Sweetgreen insider, purchased 4,428 shares on March 5 at $5.71 each (~$25,284), increasing his ownership 24.44% to 22,543 shares, according to an SEC filing.
- Sweetgreen recently missed quarterly EPS expectations (‑$0.42 vs. est. ‑$0.31) with revenue down 3.5% year-over-year and negative margins; the stock trades near $6 with a market cap of about $711 million and an average analyst rating of Hold (target $8.22).
- Several institutions have materially increased positions (notably Marshall Wace, Woodson Capital and Federated Hermes), leaving roughly 95.75% of the stock owned by institutional investors and hedge funds.
Sweetgreen, Inc. (NYSE:SG - Get Free Report) insider Nicolas Jammet bought 4,428 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the purchase, the insider owned 22,543 shares of the company's stock, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Sweetgreen Stock Up 6.9%
Shares of SG opened at $6.01 on Tuesday. The stock has a market cap of $710.81 million, a price-to-earnings ratio of -5.27 and a beta of 1.93. Sweetgreen, Inc. has a 12 month low of $4.99 and a 12 month high of $27.15. The company has a 50-day moving average price of $6.38 and a two-hundred day moving average price of $7.06.
Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company had revenue of $155.19 million for the quarter, compared to analyst estimates of $159.59 million. During the same period in the previous year, the firm posted ($0.25) earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP raised its position in Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company's stock valued at $31,313,000 after purchasing an additional 3,667,306 shares during the last quarter. Woodson Capital Management LP boosted its stake in Sweetgreen by 152.6% in the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company's stock worth $40,560,000 after purchasing an additional 3,625,000 shares in the last quarter. Greenhouse Funds LLLP bought a new stake in shares of Sweetgreen during the second quarter worth $32,122,000. Federated Hermes Inc. increased its stake in shares of Sweetgreen by 366.8% in the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company's stock valued at $17,900,000 after buying an additional 2,080,628 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Sweetgreen by 240.9% in the third quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company's stock valued at $13,509,000 after buying an additional 1,196,222 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SG has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sweetgreen in a research note on Monday, December 29th. Wolfe Research assumed coverage on Sweetgreen in a research note on Monday. They set a "peer perform" rating for the company. Oppenheimer cut their price objective on Sweetgreen from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Citigroup restated a "buy" rating on shares of Sweetgreen in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Sweetgreen from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Sweetgreen presently has an average rating of "Hold" and an average target price of $8.22.
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Sweetgreen Company Profile
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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.
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