Teachers Retirement System of The State of Kentucky Buys 14,948 Shares of Sweetgreen, Inc. (NYSE:SG)

Teachers Retirement System of The State of Kentucky lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,630 shares of the company’s stock after acquiring an additional 14,948 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.27% of Sweetgreen worth $7,821,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bayesian Capital Management LP increased its position in Sweetgreen by 120.2% during the 1st quarter. Bayesian Capital Management LP now owns 27,665 shares of the company’s stock valued at $699,000 after buying an additional 15,100 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Sweetgreen by 47.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,041 shares of the company’s stock valued at $1,391,000 after buying an additional 17,750 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Sweetgreen during the 1st quarter valued at about $29,105,000. Teca Partners LP increased its position in Sweetgreen by 2.6% during the 1st quarter. Teca Partners LP now owns 769,200 shares of the company’s stock valued at $19,430,000 after buying an additional 19,172 shares in the last quarter. Finally, Boulder Hill Capital Management LP increased its position in Sweetgreen by 81.3% during the 1st quarter. Boulder Hill Capital Management LP now owns 139,200 shares of the company’s stock valued at $3,516,000 after buying an additional 62,400 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at $64,050,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Adrienne Gemperle sold 6,808 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.95, for a total value of $210,707.60. Following the completion of the sale, the insider now owns 118,710 shares of the company’s stock, valued at $3,674,074.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $64,050,000. The disclosure for this sale can be found here. Insiders sold 440,692 shares of company stock valued at $13,738,038 over the last quarter. 21.52% of the stock is currently owned by insiders.

Sweetgreen Stock Down 6.3 %

Shares of SG traded down $1.78 during mid-day trading on Friday, reaching $26.52. The company had a trading volume of 2,745,157 shares, compared to its average volume of 2,810,472. The stock has a market capitalization of $3.00 billion, a P/E ratio of -28.52 and a beta of 2.30. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $36.72. The stock has a 50 day moving average of $28.65 and a two-hundred day moving average of $22.83.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) EPS. On average, sell-side analysts expect that Sweetgreen, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley raised Sweetgreen from an “underweight” rating to an “equal weight” rating and set a $25.00 target price on the stock in a research report on Tuesday, July 16th. Royal Bank of Canada boosted their price target on Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Citigroup boosted their price target on Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. TD Cowen boosted their price target on Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, June 13th. Finally, The Goldman Sachs Group began coverage on Sweetgreen in a research note on Thursday, June 13th. They set a “buy” rating and a $39.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.20.

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.