The Manufacturers Life Insurance Company Has $1.86 Million Holdings in Sweetgreen, Inc. (NYSE:SG)

The Manufacturers Life Insurance Company trimmed its position in shares of Sweetgreen, Inc. (NYSE:SG) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,346 shares of the company’s stock after selling 284 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sweetgreen were worth $1,856,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Oliver Luxxe Assets LLC acquired a new stake in Sweetgreen in the third quarter valued at about $1,973,000. GLOBALT Investments LLC GA bought a new position in shares of Sweetgreen in the third quarter worth about $591,000. Davidson Kempner Capital Management LP grew its holdings in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in Sweetgreen during the 3rd quarter worth approximately $3,329,000. Finally, Stephens Investment Management Group LLC lifted its stake in Sweetgreen by 139.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after purchasing an additional 547,816 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SG. TD Cowen reissued a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. UBS Group lifted their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Four equities research 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, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Insiders Place Their Bets

In related news, CEO Jonathan Neman sold 1,010 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Jammet sold 33,598 shares of Sweetgreen stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $40.14, for a total value of $1,348,623.72. Following the completion of the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $77,479,552.62. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 332,088 shares of company stock valued at $12,951,071. Corporate insiders own 21.52% of the company’s stock.

Sweetgreen Price Performance

SG opened at $37.66 on Tuesday. Sweetgreen, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The firm has a market capitalization of $4.36 billion, a PE ratio of -48.28 and a beta of 2.32. The company’s 50-day moving average is $38.17 and its 200 day moving average is $33.27.

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.