Dimensional Fund Advisors LP Has $53.15 Million Position in Sweetgreen, Inc. (NYSE:SG)

Dimensional Fund Advisors LP lifted its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 2.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,763,572 shares of the company’s stock after acquiring an additional 39,823 shares during the period. Dimensional Fund Advisors LP owned 1.56% of Sweetgreen worth $53,151,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Sweetgreen during the 2nd quarter valued at $76,000. Versor Investments LP acquired a new position in Sweetgreen during the second quarter worth $217,000. Perigon Wealth Management LLC acquired a new position in Sweetgreen during the first quarter worth $223,000. Thoroughbred Financial Services LLC acquired a new position in Sweetgreen during the second quarter worth $233,000. Finally, Moloney Securities Asset Management LLC acquired a new position in Sweetgreen during the second quarter worth $256,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 21,275 shares of the company’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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Sweetgreen news, insider Nicolas Jammet sold 21,275 shares of the company’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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 426,061 shares of company stock worth $15,071,720. 21.52% of the stock is owned by company insiders.

Analyst Ratings Changes

SG has been the topic of several research reports. Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Oppenheimer upped their price objective on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. The Goldman Sachs Group started coverage on shares of Sweetgreen in a research note on Thursday, June 13th. They issued a “buy” rating and a $39.00 target price for the company. Finally, Royal Bank of Canada upped their target price on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Sweetgreen Stock Performance

SG opened at $35.95 on Friday. The firm has a market cap of $4.10 billion, a P/E ratio of -38.66 and a beta of 2.32. The firm has a 50-day moving average of $31.52 and a 200 day moving average of $28.46. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $38.53.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. Sweetgreen’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. Equities research analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

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.