FNY Investment Advisers LLC Decreases Position in CAVA Group, Inc. $CAVA

FNY Investment Advisers LLC reduced its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 85.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,376 shares of the company’s stock after selling 7,905 shares during the period. FNY Investment Advisers LLC’s holdings in CAVA Group were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CAVA. Cornerstone Planning Group LLC lifted its position in shares of CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the last quarter. Toth Financial Advisory Corp increased its position in shares of CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 440 shares in the last quarter. Western Pacific Wealth Management LP acquired a new position in CAVA Group in the 3rd quarter valued at $33,000. Finally, CNB Bank raised its stake in CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 422 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 0.1%

Shares of NYSE:CAVA opened at $79.51 on Friday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $101.50. The stock has a market cap of $9.25 billion, a P/E ratio of 147.25, a PEG ratio of 6.79 and a beta of 2.03. The business has a fifty day moving average of $74.59 and a two-hundred day moving average of $64.28.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same quarter in the previous year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

CAVA has been the topic of several recent research reports. Argus reaffirmed a “hold” rating on shares of CAVA Group in a research note on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. Morgan Stanley raised their price target on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. KeyCorp boosted their price target on shares of CAVA Group from $65.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Wolfe Research assumed coverage on shares of CAVA Group in a research note on Monday, March 9th. They set an “outperform” rating and a $93.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.92.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the sale, the insider owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. The trade was a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the completion of the transaction, the chief financial officer owned 231,934 shares in the company, valued at $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 over the last ninety days. 6.80% of the stock is currently owned by insiders.

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.