Brown Advisory Inc. Acquires 1,987 Shares of Sweetgreen, Inc. (NYSE:SG)

Brown Advisory Inc. grew its holdings in Sweetgreen, Inc. (NYSE:SG) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 108,311 shares of the company’s stock after buying an additional 1,987 shares during the quarter. Brown Advisory Inc.’s holdings in Sweetgreen were worth $1,224,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC boosted its stake in Sweetgreen by 0.6% in the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock worth $174,019,000 after purchasing an additional 84,375 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Sweetgreen by 31.9% in the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after acquiring an additional 2,907,749 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Sweetgreen by 3.1% in the third quarter. Vanguard Group Inc. now owns 8,126,030 shares of the company’s stock worth $95,481,000 after acquiring an additional 245,255 shares during the period. Dimensional Fund Advisors LP lifted its position in Sweetgreen by 38.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares during the period. Finally, Invesco Ltd. grew its holdings in Sweetgreen by 1,435.2% during the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock worth $19,679,000 after acquiring an additional 1,565,700 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Insider Buying and Selling at Sweetgreen

In related news, Director Bradley E. Singer sold 60,000 shares of Sweetgreen stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $32.30, for a total value of $1,938,000.00. Following the completion of the sale, the director now owns 182,567 shares of the company’s stock, valued at approximately $5,896,914.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sweetgreen news, Director Bradley E. Singer sold 60,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $32.30, for a total value of $1,938,000.00. Following the transaction, the director now owns 182,567 shares of the company’s stock, valued at $5,896,914.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mitch Reback sold 10,444 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $12.01, for a total value of $125,432.44. Following the completion of the transaction, the chief financial officer now directly owns 439,059 shares in the company, valued at approximately $5,273,098.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 385,870 shares of company stock valued at $10,711,009. Company insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

Shares of NYSE SG opened at $32.53 on Friday. The company’s 50-day moving average price is $25.14 and its 200 day moving average price is $16.39. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $34.45.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $157.85 million during the quarter, compared to analysts’ expectations of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business posted ($0.29) earnings per share. Equities research analysts forecast that Sweetgreen, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on SG. Oppenheimer increased their price target on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. lifted their price target on Sweetgreen from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Citigroup upped their target price on shares of Sweetgreen from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Royal Bank of Canada raised their target price on shares of Sweetgreen from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Piper Sandler upped their price objective on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

About Sweetgreen

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.