Franklin Resources Inc. Boosts Stock Position in Sweetgreen, Inc. (NYSE:SG)

Franklin Resources Inc. boosted its position in Sweetgreen, Inc. (NYSE:SG - Free Report) by 65.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,413 shares of the company's stock after buying an additional 72,339 shares during the quarter. Franklin Resources Inc. owned approximately 0.16% of Sweetgreen worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its stake in Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock valued at $33,000 after buying an additional 1,000 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Sweetgreen in the fourth quarter worth $53,000. Denver PWM LLC purchased a new position in shares of Sweetgreen in the fourth quarter valued at $60,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sweetgreen during the 4th quarter valued at $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in Sweetgreen during the 4th quarter worth about $77,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Insiders Place Their Bets

In other news, COO Rossann Williams sold 4,977 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the completion of the sale, the chief operating officer now owns 95,516 shares of the company's stock, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mitch Reback sold 8,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares of the company's stock, valued at approximately $11,628,000.53. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,852 shares of company stock valued at $1,052,177 over the last quarter. 21.52% of the stock is owned by corporate insiders.

Remove Ads

Sweetgreen Trading Down 0.9 %

Shares of SG traded down $0.18 during midday trading on Tuesday, reaching $20.92. The stock had a trading volume of 736,019 shares, compared to its average volume of 3,246,654. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -26.75 and a beta of 2.28. The company's 50-day moving average is $24.10 and its 200 day moving average is $31.75. Sweetgreen, Inc. has a 12-month low of $18.62 and a 12-month high of $45.12.

Analysts Set New Price Targets

SG has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Oppenheimer decreased their target price on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, UBS Group lowered their price objective on Sweetgreen from $45.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.