Sweetgreen, Inc. (NYSE:SG) Holdings Raised by M&T Bank Corp

M&T Bank Corp lifted its stake in Sweetgreen, Inc. (NYSE:SG) by 22.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,648 shares of the company’s stock after purchasing an additional 4,989 shares during the quarter. M&T Bank Corp’s holdings in Sweetgreen were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SG. Baillie Gifford & Co. boosted its holdings in shares of Sweetgreen by 6.2% in the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares during the period. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after acquiring an additional 236,874 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares during the period. State Street Corp boosted its stake in Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after purchasing an additional 69,120 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after purchasing an additional 39,823 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Performance

NYSE:SG opened at $34.46 on Monday. The company has a market capitalization of $3.99 billion, a P/E ratio of -44.18 and a beta of 2.32. The stock’s 50 day moving average price is $38.37 and its 200 day moving average price is $33.42. Sweetgreen, Inc. has a 52 week low of $9.66 and a 52 week high of $45.12.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. KeyCorp initiated coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer upped their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Finally, UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.80.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 72,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $37.77, for a total value of $2,719,440.00. Following the completion of the sale, the chief financial officer now owns 43,901 shares of the company’s stock, valued at $1,658,140.77. The trade was a 62.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the sale, the insider now owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This trade represents a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 470,639 shares of company stock valued at $18,379,124 over the last ninety days. 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.