State Board of Administration of Florida Retirement System Invests $167,000 in Sweetgreen, Inc. (NYSE:SG)

State Board of Administration of Florida Retirement System bought a new position in shares of Sweetgreen, Inc. (NYSE:SG – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,450 shares of the company’s stock, valued at approximately $167,000.

Several other hedge funds have also modified their holdings of SG. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Sweetgreen during the 3rd quarter worth about $6,156,000. California State Teachers Retirement System raised its position in shares of Sweetgreen by 501.1% during the 3rd quarter. California State Teachers Retirement System now owns 34,614 shares of the company’s stock worth $640,000 after purchasing an additional 28,856 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Sweetgreen by 146.1% during the 4th quarter. Baillie Gifford & Co. now owns 5,291,714 shares of the company’s stock worth $45,350,000 after purchasing an additional 3,141,070 shares during the last quarter. Outfitter Financial LLC raised its position in shares of Sweetgreen by 124.2% during the 4th quarter. Outfitter Financial LLC now owns 34,275 shares of the company’s stock worth $294,000 after purchasing an additional 18,985 shares during the last quarter. Finally, Summit Place Financial Advisors LLC raised its position in shares of Sweetgreen by 29.6% during the 4th quarter. Summit Place Financial Advisors LLC now owns 21,985 shares of the company’s stock worth $188,000 after purchasing an additional 5,025 shares during the last quarter. 84.30% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Performance

SG stock opened at $9.58 on Tuesday. The firm has a market cap of $1.07 billion, a P/E ratio of -6.26 and a beta of 1.61. Sweetgreen, Inc. has a 12 month low of $6.10 and a 12 month high of $21.66. The company has a 50-day simple moving average of $7.84.

Sweetgreen (NYSE:SG – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. The business had revenue of $125.06 million during the quarter, compared to the consensus estimate of $125.57 million. Sweetgreen had a negative net margin of 34.58% and a negative return on equity of 28.08%. As a group, analysts anticipate that Sweetgreen, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SG has been the subject of several research analyst reports. Cowen downgraded shares of Sweetgreen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $19.00 to $12.00 in a research report on Tuesday, February 7th. Cowen reduced their price target on shares of Sweetgreen from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 24th. Bank of America reduced their price target on shares of Sweetgreen from $11.00 to $9.00 in a research report on Tuesday, May 2nd. Finally, Citigroup reduced their price target on shares of Sweetgreen from $10.00 to $9.00 in a research report on Monday, April 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.67.

Insider Transactions at Sweetgreen

In other news, SVP Daniel Shlossman sold 3,864 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.46, for a total transaction of $36,553.44. Following the completion of the sale, the senior vice president now owns 236,547 shares in the company, valued at approximately $2,237,734.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Daniel Shlossman sold 3,864 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.46, for a total transaction of $36,553.44. Following the completion of the transaction, the senior vice president now owns 236,547 shares of the company’s stock, valued at approximately $2,237,734.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Jammet sold 195,745 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $7.45, for a total transaction of $1,458,300.25. Following the transaction, the insider now directly owns 2,100,000 shares of the company’s stock, valued at approximately $15,645,000. The disclosure for this sale can be found here. Insiders sold 212,926 shares of company stock worth $1,620,833 in the last 90 days. Insiders own 22.03% of the company’s stock.

Sweetgreen Company Profile

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Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.