Oliver Luxxe Assets LLC Acquires Shares of 55,645 Sweetgreen, Inc. (NYSE:SG)

Oliver Luxxe Assets LLC purchased a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,645 shares of the company’s stock, valued at approximately $1,973,000.

A number of other hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. grew its position in shares of Sweetgreen by 6.2% during the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sweetgreen by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after buying an additional 70,395 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sweetgreen by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after buying an additional 39,823 shares in the last quarter. Finally, Hood River Capital Management LLC grew its position in shares of 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. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Up 4.2 %

SG stock opened at $37.88 on Monday. The company has a market capitalization of $4.32 billion, a P/E ratio of -46.19 and a beta of 2.33. The company has a 50-day simple moving average of $33.46 and a 200 day simple moving average of $29.35. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $39.75.

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 the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) EPS. Equities analysts anticipate that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SG shares. Piper Sandler reissued a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Oppenheimer lifted 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. UBS Group lifted their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, Morgan Stanley upped their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

Insider Buying and Selling

In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sweetgreen news, CFO Mitch Reback sold 9,156 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.61, for a total value of $335,201.16. Following the completion of the sale, the chief financial officer now directly owns 379,181 shares of the company’s stock, valued at approximately $13,881,816.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 426,061 shares of company stock valued at $15,071,720 over the last 90 days. 21.52% of the stock is currently owned by company insiders.

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.