Quantbot Technologies LP Invests $3.18 Million in Sweetgreen, Inc. $SG

Quantbot Technologies LP purchased a new stake in Sweetgreen, Inc. (NYSE:SG) in the third quarter, HoldingsChannel.com reports. The fund purchased 398,126 shares of the company’s stock, valued at approximately $3,177,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Greenhouse Funds LLLP bought a new position in Sweetgreen in the 2nd quarter valued at about $32,122,000. Federated Hermes Inc. acquired a new stake in shares of Sweetgreen during the 3rd quarter worth approximately $4,527,000. Spyglass Capital Management LLC increased its stake in Sweetgreen by 15.2% in the second quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after acquiring an additional 513,643 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Sweetgreen by 6,495.2% in the second quarter. BNP Paribas Financial Markets now owns 496,616 shares of the company’s stock valued at $7,390,000 after acquiring an additional 489,086 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its position in Sweetgreen by 32.0% during the second quarter. Champlain Investment Partners LLC now owns 1,664,750 shares of the company’s stock valued at $24,771,000 after purchasing an additional 403,458 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Down 2.9%

NYSE SG opened at $5.39 on Tuesday. The company has a market cap of $638.01 million, a price-to-earnings ratio of -4.73 and a beta of 1.93. Sweetgreen, Inc. has a twelve month low of $4.99 and a twelve month high of $27.15. The business’s fifty day moving average is $6.50 and its 200 day moving average is $7.18.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The firm had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 31.09%. Sweetgreen’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.25) earnings per share. On average, research analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. William Blair reaffirmed a “market perform” rating on shares of Sweetgreen in a report on Friday, November 7th. Royal Bank Of Canada dropped their price objective on Sweetgreen from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company lowered Sweetgreen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Wednesday, December 17th. Morgan Stanley lowered their target price on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sweetgreen in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.43.

Sweetgreen Company Profile

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.