Franklin Resources Inc. Has $5.88 Million Stake in Sweetgreen, Inc. (NYSE:SG)

Franklin Resources Inc. grew its stake in Sweetgreen, Inc. (NYSE:SG) by 65.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 183,413 shares of the company’s stock after buying an additional 72,339 shares during the period. Franklin Resources Inc.’s holdings in Sweetgreen were worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sweetgreen by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after acquiring an additional 351,240 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock valued at $142,106,000 after acquiring an additional 1,025,341 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Sweetgreen by 13.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares in the last quarter. State Street Corp boosted its position in shares of Sweetgreen by 3.2% during the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after acquiring an additional 69,120 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in 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 buying an additional 116,243 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on SG. Citigroup reduced 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. Morgan Stanley reduced their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Piper Sandler reduced their price target on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. KeyCorp began coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Finally, UBS Group reduced their price target on shares of 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. According to MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Sweetgreen Trading Up 16.2 %

Shares of NYSE SG opened at $22.61 on Thursday. Sweetgreen, Inc. has a 1-year low of $18.62 and a 1-year high of $45.12. The company has a market cap of $2.65 billion, a PE ratio of -28.98 and a beta of 2.28. The company has a 50-day moving average of $24.80 and a two-hundred day moving average of $32.07.

Insider Buying and Selling

In related news, COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the sale, the chief operating officer now directly owns 95,516 shares of the company’s stock, valued at $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. 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 ninety days. Insiders own 21.52% of the company’s stock.

Sweetgreen 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.