Bank of New York Mellon Corp Has $9.74 Million Position in Sweetgreen, Inc. (NYSE:SG)

Bank of New York Mellon Corp boosted its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 303,914 shares of the company's stock after buying an additional 36,281 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.26% of Sweetgreen worth $9,743,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SG. Denver PWM LLC acquired a new position in shares of Sweetgreen during the 4th quarter worth approximately $60,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sweetgreen during the 4th quarter worth approximately $62,000. KBC Group NV increased its holdings in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock worth $111,000 after acquiring an additional 704 shares during the last quarter. Sachetta LLC increased its holdings in shares of Sweetgreen by 37.6% during the 4th quarter. Sachetta LLC now owns 4,324 shares of the company's stock worth $139,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Sweetgreen by 68.4% during the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company's stock worth $151,000 after acquiring an additional 1,728 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Insider Activity

In other news, CFO Mitch Reback sold 10,926 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.52% of the company's stock.

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Sweetgreen Stock Down 1.9 %

Shares of NYSE:SG traded down $0.47 during trading on Tuesday, reaching $23.66. 2,126,943 shares of the company traded hands, compared to its average volume of 3,717,271. The company's 50 day moving average is $27.94 and its two-hundred day moving average is $33.22. The firm has a market capitalization of $2.77 billion, a PE ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a 52 week low of $18.77 and a 52 week high of $45.12.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SG. UBS Group decreased their target price on Sweetgreen from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating on the stock. Piper Sandler decreased their target price on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley reduced their price target on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.27.

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.