Amundi Acquires Shares of 282,710 Sweetgreen, Inc. (NYSE:SG)

Amundi acquired a new stake in shares of Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 282,710 shares of the company’s stock, valued at approximately $9,112,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Sweetgreen by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after buying an additional 236,874 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Sweetgreen by 13.3% in the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after purchasing an additional 272,340 shares in the last quarter. State Street Corp grew its holdings in shares of Sweetgreen by 3.2% in the third quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after purchasing an additional 69,120 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sweetgreen by 5.4% in the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after purchasing an additional 116,243 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Sweetgreen by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company’s stock valued at $27,235,000 after purchasing an additional 19,263 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SG. The Goldman Sachs Group cut their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. TD Securities lowered their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Trading Up 0.8 %

NYSE:SG opened at $23.83 on Friday. Sweetgreen, Inc. has a twelve month low of $18.77 and a twelve month high of $45.12. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -30.55 and a beta of 2.44. The stock has a fifty day simple moving average of $28.16 and a 200-day simple moving average of $33.27.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 10,926 shares of Sweetgreen 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 sale, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.52% of the company’s stock.

About Sweetgreen

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.