M&T Bank Corp Sells 6,505 Shares of Sweetgreen, Inc. (NYSE:SG)

M&T Bank Corp reduced its stake in shares of Sweetgreen, Inc. (NYSE:SG) by 23.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,143 shares of the company’s stock after selling 6,505 shares during the quarter. M&T Bank Corp’s holdings in Sweetgreen were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Sweetgreen by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after acquiring an additional 236,874 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings 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 worth $82,032,000 after acquiring an additional 272,340 shares during the last quarter. State Street Corp lifted its holdings 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 worth $80,224,000 after acquiring an additional 69,120 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sweetgreen by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock worth $79,757,000 after acquiring an additional 116,243 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Sweetgreen by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company’s stock worth $27,235,000 after acquiring an additional 19,263 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Insider Buying and Selling at Sweetgreen

In related news, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the transaction, the insider now owns 1,760,034 shares in the company, valued at $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,125 shares of company stock worth $6,975,422. 21.52% of the stock is currently owned by company insiders.

Sweetgreen Trading Up 1.3 %

SG stock opened at $25.17 on Thursday. The firm’s 50-day moving average price is $28.51 and its two-hundred day moving average price is $33.42. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -32.27 and a beta of 2.44.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. UBS Group decreased their target price 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. Finally, Oppenheimer decreased their target price on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and an average target price of $36.27.

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.