Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Holdings in Sweetgreen, Inc. $SG

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Sweetgreen, Inc. (NYSE:SG) by 38.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 140,400 shares of the company’s stock after selling 85,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Sweetgreen were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Ibex Investors LLC increased its holdings in shares of Sweetgreen by 5,058.7% during the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after buying an additional 809,400 shares during the last quarter. Capelight Capital Asset Management LP acquired a new position in Sweetgreen in the fourth quarter valued at approximately $676,000. MYDA Advisors LLC purchased a new position in Sweetgreen in the fourth quarter worth approximately $676,000. BNP Paribas Financial Markets increased its stake in Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after acquiring an additional 603,029 shares during the last quarter. Finally, Havemeyer Place LP acquired a new position in shares of Sweetgreen in the 4th quarter valued at $464,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Down 0.4%

Shares of SG stock opened at $6.42 on Monday. The firm has a 50 day moving average of $8.07 and a two-hundred day moving average of $6.91. The stock has a market capitalization of $763.48 million, a PE ratio of 53.55 and a beta of 2.20. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $13.25.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $163.94 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. Analysts expect that Sweetgreen, Inc. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SG has been the subject of a number of recent analyst reports. DA Davidson raised their price objective on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Citigroup boosted their price target on shares of Sweetgreen from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. BNP Paribas Exane boosted their target price on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th. Finally, Oppenheimer raised their price target on Sweetgreen from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Sweetgreen has an average rating of “Hold” and an average price target of $7.72.

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.