Key Points
- Goldman Sachs bought 594,553 Sweetgreen shares on April 7 at an average of $5.69 for a total of $3,383,006.57, raising its stake to 11,900,255 shares (a 5.26% increase).
- Sweetgreen reported Q4 EPS of ($0.42) versus consensus ($0.31) and revenue of $155.19M versus $159.59M expected, leaving the company with negative margins and a market cap of about $665M; analysts' consensus rating is Hold with a $7.84 price target.
- Institutional ownership is very high at 95.75%, with several hedge funds (Marshall Wace, Woodson Capital, Federated Hermes, BNP Paribas) significantly increasing their positions recently.
Sweetgreen, Inc. (NYSE:SG - Get Free Report) major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the completion of the purchase, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. This trade represents a 5.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Sweetgreen Stock Performance
Shares of Sweetgreen stock opened at $5.62 on Friday. The stock has a market capitalization of $665.03 million, a PE ratio of -4.93 and a beta of 1.90. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $22.18. The stock has a 50 day moving average price of $5.55 and a two-hundred day moving average price of $6.54.
Sweetgreen (NYSE:SG - Get Free Report) last issued its earnings results 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 return on equity of 32.26% and a negative net margin of 19.73%.The firm 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 company earned ($0.25) earnings per share. Sweetgreen's revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.
Hedge Funds Weigh In On Sweetgreen
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP grew its position in Sweetgreen by 1,428.8% during the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company's stock valued at $31,313,000 after buying an additional 3,667,306 shares during the period. Woodson Capital Management LP grew its position in shares of Sweetgreen by 152.6% during the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company's stock valued at $40,560,000 after acquiring an additional 3,625,000 shares during the period. Federated Hermes Inc. increased its stake in shares of Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company's stock worth $17,900,000 after purchasing an additional 2,080,628 shares during the last quarter. Greenhouse Funds LLLP increased its stake in shares of Sweetgreen by 82.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company's stock worth $31,496,000 after purchasing an additional 1,788,175 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sweetgreen by 240.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company's stock worth $13,509,000 after purchasing an additional 1,196,222 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a "peer perform" rating on the stock. UBS Group decreased their price objective on Sweetgreen from $7.50 to $6.50 and set a "neutral" rating for the company in a report on Monday, February 23rd. Royal Bank Of Canada lowered their price objective on Sweetgreen from $8.00 to $7.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Sanford C. Bernstein set a $7.00 target price on Sweetgreen in a report on Wednesday, January 7th. Finally, Barclays lifted their target price on Sweetgreen from $5.00 to $7.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $7.84.
View Our Latest Stock Analysis on SG
Sweetgreen Company Profile
(
Get Free Report)
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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