Wellington Management Group LLP Boosts Position in Sweetgreen, Inc. (NYSE:SG)

Wellington Management Group LLP lifted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,432,504 shares of the company's stock after acquiring an additional 1,025,341 shares during the period. Wellington Management Group LLP owned approximately 3.78% of Sweetgreen worth $142,106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SG. Cox Capital Mgt LLC increased its stake in Sweetgreen by 76.0% in the fourth quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock valued at $1,728,000 after purchasing an additional 23,278 shares in the last quarter. Geode Capital Management LLC increased its position in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company's stock valued at $79,757,000 after buying an additional 116,243 shares in the last quarter. Diversified Trust Co increased its position in Sweetgreen by 223.2% in the 4th quarter. Diversified Trust Co now owns 27,126 shares of the company's stock valued at $870,000 after buying an additional 18,733 shares in the last quarter. Moody National Bank Trust Division acquired a new position in Sweetgreen during the 4th quarter worth approximately $1,182,000. Finally, Franklin Resources Inc. boosted its holdings in Sweetgreen by 1,399.0% in the third quarter. Franklin Resources Inc. now owns 111,074 shares of the company's stock worth $4,365,000 after acquiring an additional 103,664 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research firms have recently commented on SG. TD Securities decreased their price objective on Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley lowered their target price on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group lowered their price objective on Sweetgreen from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.27.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mitch Reback sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock valued at $1,052,177 in the last three months. Company insiders own 21.52% of the company's stock.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $1.64 during trading hours on Friday, hitting $20.88. 7,214,138 shares of the company's stock traded hands, compared to its average volume of 3,204,329. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -26.76 and a beta of 2.28. Sweetgreen, Inc. has a 12-month low of $18.62 and a 12-month high of $45.12. The company has a fifty day simple moving average of $25.95 and a 200-day simple moving average of $32.58.

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.