Liberty One Investment Management LLC Raises Position in Sweetgreen, Inc. $SG

Liberty One Investment Management LLC raised its stake in Sweetgreen, Inc. (NYSE:SG) by 50.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,168 shares of the company’s stock after purchasing an additional 9,148 shares during the quarter. Liberty One Investment Management LLC’s holdings in Sweetgreen were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SG. Oppenheimer Asset Management Inc. raised its stake in shares of Sweetgreen by 51.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 38,826 shares of the company’s stock worth $971,000 after purchasing an additional 13,130 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Sweetgreen by 81.8% in the first quarter. Oppenheimer & Co. Inc. now owns 48,070 shares of the company’s stock worth $1,203,000 after purchasing an additional 21,625 shares during the last quarter. Spire Wealth Management raised its stake in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after purchasing an additional 635 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Sweetgreen by 19,183.8% in the first quarter. Bessemer Group Inc. now owns 20,248 shares of the company’s stock worth $507,000 after purchasing an additional 20,143 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Sweetgreen by 50.8% in the first quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company’s stock worth $332,000 after purchasing an additional 4,474 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SG. Royal Bank Of Canada lowered their price objective on Sweetgreen from $25.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. UBS Group lowered their price objective on Sweetgreen from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Wells Fargo & Company lowered their price objective on Sweetgreen from $19.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Piper Sandler lowered their price objective on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sweetgreen in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.73.

Sweetgreen Trading Up 9.3%

Shares of SG opened at $8.12 on Wednesday. The company has a market capitalization of $960.22 million, a price-to-earnings ratio of -9.67 and a beta of 1.97. The stock has a 50 day moving average of $8.48 and a 200 day moving average of $12.84. Sweetgreen, Inc. has a 12 month low of $7.23 and a 12 month high of $45.12.

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

Sweetgreen Company 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.