CAVA Group, Inc. $CAVA Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 40.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 724,855 shares of the company’s stock after selling 499,584 shares during the period. Federated Hermes Inc. owned about 0.63% of CAVA Group worth $61,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Dagco Inc. purchased a new position in shares of CAVA Group during the 1st quarter valued at about $27,000. Atlantic Union Bankshares Corp acquired a new stake in CAVA Group during the second quarter worth about $31,000. Brooklyn Investment Group grew its holdings in CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after acquiring an additional 252 shares during the period. Fifth Third Bancorp purchased a new position in CAVA Group during the second quarter valued at approximately $38,000. Finally, Whittier Trust Co. lifted its holdings in CAVA Group by 60.9% in the second quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Up 1.0%

Shares of NYSE CAVA opened at $53.88 on Tuesday. The company’s 50-day simple moving average is $55.64 and its 200-day simple moving average is $69.36. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $149.35. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 46.45, a price-to-earnings-growth ratio of 3.02 and a beta of 2.51.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. During the same quarter last year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAVA. TD Cowen dropped their price objective on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Robert W. Baird set a $95.00 price target on shares of CAVA Group in a research report on Wednesday, August 13th. Sanford C. Bernstein decreased their price objective on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Piper Sandler lowered their target price on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Cfra Research upgraded CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total value of $192,051.60. Following the sale, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.10% of the stock is currently owned by company insiders.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.