Sweetgreen, Inc. (NYSE:SG) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Sweetgreen, Inc. (NYSE:SG) by 14.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,630 shares of the company’s stock after acquiring an additional 6,478 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sweetgreen were worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Maverick Capital Ltd. acquired a new position in shares of Sweetgreen during the second quarter worth about $1,883,000. AQR Capital Management LLC purchased a new stake in Sweetgreen during the second quarter worth about $346,000. Davidson Kempner Capital Management LP boosted its holdings in Sweetgreen by 40.1% during the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after buying an additional 164,600 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Sweetgreen by 42.6% during the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after buying an additional 490,806 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Sweetgreen by 49.1% during the second quarter. ProShare Advisors LLC now owns 26,218 shares of the company’s stock worth $790,000 after buying an additional 8,634 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Adrienne Gemperle sold 3,868 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares of the company’s stock, valued at $4,169,913.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $69,044,255.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adrienne Gemperle sold 3,868 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the transaction, the insider now directly owns 114,842 shares of the company’s stock, valued at $4,169,913.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock valued at $15,071,720 over the last 90 days. Insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $36.37 on Friday. The firm has a 50 day simple moving average of $33.23 and a 200-day simple moving average of $29.20. The firm has a market cap of $4.15 billion, a PE ratio of -39.11 and a beta of 2.33. Sweetgreen, Inc. has a 1-year low of $8.64 and a 1-year high of $38.81.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) EPS. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Citigroup boosted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, UBS Group upped their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

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.