CAVA Group, Inc. $CAVA Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in CAVA Group, Inc. (NYSE:CAVA) by 35.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,227 shares of the company’s stock after selling 11,590 shares during the period. SG Americas Securities LLC’s holdings in CAVA Group were worth $1,717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAVA. Bison Wealth LLC purchased a new stake in CAVA Group in the 4th quarter valued at about $208,000. Goldman Sachs Group Inc. lifted its holdings in shares of CAVA Group by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after acquiring an additional 75,828 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CAVA Group by 17.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after acquiring an additional 34,860 shares during the period. Brown Advisory Inc. boosted its position in shares of CAVA Group by 9.3% in the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after acquiring an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of CAVA Group by 20.3% in the second quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock worth $772,000 after acquiring an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $76.74 on Friday. The stock has a 50-day simple moving average of $82.43 and a 200-day simple moving average of $76.16. The stock has a market capitalization of $8.94 billion, a P/E ratio of 147.57, a PEG ratio of 5.47 and a beta of 1.68. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. CAVA Group’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $290,826.36. Following the transaction, the insider owned 324,630 shares in the company, valued at approximately $29,031,660.90. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the director directly owned 3,074 shares of the company’s stock, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 91,747 shares of company stock valued at $7,970,838. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAVA shares. Robert W. Baird upped their price target on shares of CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $95.00 price target on shares of CAVA Group in a report on Wednesday, May 20th. Benchmark boosted their price objective on shares of CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Mizuho upped their price objective on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $106.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.44.

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.