Sweetgreen, Inc. (NYSE:SG) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Sweetgreen, Inc. (NYSE:SG) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 849,512 shares of the company’s stock after acquiring an additional 19,263 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sweetgreen were worth $27,235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the period. Denver PWM LLC bought a new position in Sweetgreen in the 4th quarter worth approximately $60,000. Wilmington Savings Fund Society FSB acquired a new stake in Sweetgreen in the 4th quarter valued at approximately $62,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in Sweetgreen during the 4th quarter valued at $77,000. Finally, KBC Group NV boosted its position in 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 period. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $24.16 on Tuesday. The company has a market capitalization of $2.83 billion, a PE ratio of -30.97 and a beta of 2.44. The stock has a fifty day moving average of $27.94 and a 200-day moving average of $33.22. Sweetgreen, Inc. has a one year low of $18.77 and a one year high of $45.12.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 8,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 350,981 shares in the company, valued at approximately $11,628,000.53. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SG has been the topic of a number of research analyst reports. UBS Group lowered their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Citigroup dropped their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, TD Securities cut their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

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.