Cox Capital Mgt LLC Invests $1.09 Million in Sweetgreen, Inc. (NYSE:SG)

Cox Capital Mgt LLC purchased a new stake in Sweetgreen, Inc. (NYSE:SG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,620 shares of the company’s stock, valued at approximately $1,085,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Evolutionary Tree Capital Management LLC grew its stake in Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after buying an additional 474 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after purchasing an additional 830 shares during the period. Principal Financial Group Inc. grew its position in Sweetgreen by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after purchasing an additional 1,337 shares during the last quarter. Swiss National Bank increased its stake in Sweetgreen by 0.9% in the first quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after purchasing an additional 1,500 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Sweetgreen by 9.9% in the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after buying an additional 1,585 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SG has been the topic of several recent research reports. Citigroup boosted their price target on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. TD Cowen restated a “buy” rating and set a $43.00 price objective on shares of Sweetgreen in a research report on Friday, September 27th. Finally, UBS Group raised their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Sweetgreen Stock Up 4.2 %

NYSE SG traded up $1.51 during mid-day trading on Friday, hitting $37.88. The stock had a trading volume of 4,341,370 shares, compared to its average volume of 2,843,929. The company has a 50 day simple moving average of $33.46 and a 200 day simple moving average of $29.29. The company has a market cap of $4.29 billion, a price-to-earnings ratio of -40.72 and a beta of 2.33. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $39.75.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results 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). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The firm had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. During the same quarter in the prior year, the business earned ($0.20) EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, equities analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nathaniel Ru sold 9,250 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the sale, the insider now directly owns 1,952,129 shares in the company, valued at $56,104,187.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sweetgreen news, insider Nicolas Jammet sold 21,275 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $35.10, for a total transaction of $746,752.50. Following the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $67,751,178.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 426,061 shares of company stock worth $15,071,720. Insiders own 21.52% of the company’s stock.

Sweetgreen 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.