Havemeyer Place LP Takes Position in Sweetgreen, Inc. $SG

Havemeyer Place LP bought a new stake in Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 68,692 shares of the company’s stock, valued at approximately $464,000. Havemeyer Place LP owned approximately 0.06% of Sweetgreen as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after purchasing an additional 3,484 shares in the last quarter. CWM LLC grew its stake in Sweetgreen by 212.2% during the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares in the last quarter. Eastern Bank grew its stake in Sweetgreen by 228.5% during the 4th quarter. Eastern Bank now owns 8,780 shares of the company’s stock valued at $59,000 after purchasing an additional 6,107 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in Sweetgreen by 134.8% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 10,800 shares of the company’s stock valued at $73,000 after purchasing an additional 6,200 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SG. Citizens Jmp began coverage on Sweetgreen in a research note on Monday, March 30th. They set a “mkt underperform” rating and a $4.50 price objective for the company. Wolfe Research began coverage on Sweetgreen in a research note on Monday, March 9th. They set a “peer perform” rating for the company. Oppenheimer raised their price objective on Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. DA Davidson raised their price objective on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.04.

Sweetgreen Trading Up 6.4%

Shares of SG opened at $7.99 on Wednesday. The firm has a market cap of $949.33 million, a price-to-earnings ratio of 66.58 and a beta of 2.16. The stock has a 50 day moving average of $7.23 and a 200-day moving average of $6.66. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $16.70.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $161.52 million during the quarter, compared to analyst estimates of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.Sweetgreen’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. On average, sell-side analysts predict that Sweetgreen, Inc. will post -0.76 earnings per share for the current fiscal year.

Insider Activity at Sweetgreen

In other news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was bought at an average price of $5.69 per share, for a total transaction of $3,383,006.57. Following the transaction, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. The trade was a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.19% of the company’s stock.

About Sweetgreen

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.