Sweetgreen, Inc. (NYSE:SG) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in shares of Sweetgreen, Inc. (NYSE:SG) by 27.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,693 shares of the company’s stock after acquiring an additional 2,488 shares during the period. Janney Montgomery Scott LLC’s holdings in Sweetgreen were worth $375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Investment Management Group LLC raised its stake in shares of Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after buying an additional 547,816 shares during the period. Lord Abbett & CO. LLC raised its position in Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after acquiring an additional 272,340 shares during the period. Tidal Investments LLC lifted its holdings in Sweetgreen by 848.2% during the third quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock valued at $9,576,000 after purchasing an additional 241,652 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Sweetgreen by 7.5% in the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after purchasing an additional 236,874 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Sweetgreen by 37.2% in the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company’s stock valued at $23,789,000 after purchasing an additional 181,805 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SG. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $49.00 in a research note on Friday, January 10th. KeyCorp initiated coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Oppenheimer cut their price objective on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.20.

Sweetgreen Price Performance

Sweetgreen stock opened at $29.07 on Tuesday. The stock’s fifty day moving average is $33.57 and its two-hundred day moving average is $34.51. The stock has a market cap of $3.36 billion, a PE ratio of -37.27 and a beta of 2.37. Sweetgreen, Inc. has a 1-year low of $10.93 and a 1-year high of $45.12.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bradley E. Singer sold 7,270 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $39.70, for a total value of $288,619.00. Following the sale, the director now directly owns 181,782 shares of the company’s stock, valued at approximately $7,216,745.40. This represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 608,877 shares of company stock valued at $23,466,012 over the last three months. 21.52% of the stock is owned by corporate insiders.

Sweetgreen 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.