Havemeyer Place LP Invests $464,000 in Sweetgreen, Inc. $SG

Havemeyer Place LP bought a new position in Sweetgreen, Inc. (NYSE:SG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 68,692 shares of the company’s stock, valued at approximately $464,000.

Several other hedge funds also recently made changes to their positions in SG. Larson Financial Group LLC grew its position in shares of Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after acquiring an additional 2,349 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Sweetgreen by 124.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after purchasing an additional 3,484 shares during the last quarter. CWM LLC lifted its holdings in shares of Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after purchasing an additional 4,984 shares during the last quarter. Eastern Bank lifted its holdings in shares of Sweetgreen by 228.5% in the 4th quarter. Eastern Bank now owns 8,780 shares of the company’s stock worth $59,000 after purchasing an additional 6,107 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of Sweetgreen by 134.8% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 10,800 shares of the company’s stock worth $73,000 after purchasing an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Shares of SG stock opened at $7.99 on Wednesday. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $16.70. The stock has a fifty day moving average of $7.23 and a two-hundred day moving average of $6.66. The firm has a market capitalization of $949.33 million, a PE ratio of 66.58 and a beta of 2.16.

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

Insider Transactions at Sweetgreen

In other Sweetgreen news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of Sweetgreen stock in a transaction on 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 of the company’s stock, valued at $67,712,450.95. The trade was a 5.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 18.19% of the company’s stock.

Wall Street Analysts Forecast Growth

SG has been the topic of several recent research reports. UBS Group raised their price target on Sweetgreen from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Wolfe Research started coverage on shares of Sweetgreen in a report on Monday, March 9th. They set a “peer perform” rating for the company. Weiss Ratings raised shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Citizens Jmp started coverage on shares of Sweetgreen in a report on Monday, March 30th. They set a “mkt underperform” rating and a $4.50 price target for the company. Finally, DA Davidson boosted their price target on shares of Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.04.

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.