SG Americas Securities LLC lowered its stake in CAVA Group, Inc. (NYSE:CAVA – Free Report) by 35.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,227 shares of the company’s stock after selling 11,590 shares during the quarter. SG Americas Securities LLC’s holdings in CAVA Group were worth $1,717,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of CAVA. Los Angeles Capital Management LLC acquired a new position in CAVA Group during the 4th quarter worth approximately $25,000. Harbor Investment Advisory LLC grew its position in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. TD Private Client Wealth LLC grew its position in CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after acquiring an additional 325 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of CAVA Group during the third quarter valued at approximately $36,000. Finally, Allworth Financial LP raised its stake in shares of CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CAVA has been the subject of several analyst reports. Barclays upped their target price on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Robert W. Baird lifted their price target on shares of CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Stifel Nicolaus boosted their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Mizuho boosted their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.44.
Insider Activity
In other CAVA Group news, CEO Brett Schulman sold 33,174 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the transaction, the chief executive officer directly owned 798,669 shares of the company’s stock, valued at $71,424,968.67. This trade represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the transaction, the insider directly owned 327,882 shares of the company’s stock, valued at approximately $26,148,589.50. This represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 91,747 shares of company stock worth $7,970,838 over the last ninety days. Insiders own 6.70% of the company’s stock.
CAVA Group Stock Down 3.8%
Shares of CAVA opened at $76.74 on Friday. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 147.57, a PEG ratio of 5.47 and a beta of 1.68. The business’s 50 day moving average is $82.43 and its two-hundred day moving average is $76.16. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79.
CAVA Group (NYSE:CAVA – Get Free Report) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.
CAVA Group Profile
CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.
Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.
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