Wealth Enhancement Advisory Services LLC Has $5.12 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 10.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,288 shares of the company’s stock after selling 6,884 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of CAVA Group worth $5,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Jackson Square Capital LLC increased its position in CAVA Group by 254.9% during the 1st quarter. Jackson Square Capital LLC now owns 24,996 shares of the company’s stock worth $2,160,000 after purchasing an additional 17,953 shares in the last quarter. RMR Wealth Builders acquired a new position in CAVA Group during the 1st quarter worth approximately $249,000. Parkside Investments LLC increased its position in CAVA Group by 50.0% during the 1st quarter. Parkside Investments LLC now owns 7,500 shares of the company’s stock worth $648,000 after purchasing an additional 2,500 shares in the last quarter. Nepsis Inc. increased its position in CAVA Group by 79.4% during the 1st quarter. Nepsis Inc. now owns 135,055 shares of the company’s stock worth $11,670,000 after purchasing an additional 59,765 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in CAVA Group by 768.4% during the 1st quarter. SG Americas Securities LLC now owns 220,816 shares of the company’s stock worth $19,081,000 after acquiring an additional 195,389 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Down 0.4%

Shares of NYSE CAVA opened at $73.95 on Thursday. The firm has a market cap of $8.55 billion, a PE ratio of 61.63, a P/E/G ratio of 3.47 and a beta of 2.77. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The company’s fifty day simple moving average is $85.28 and its 200 day simple moving average is $99.96.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. CAVA Group’s revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 2,799 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $210,372.84. Following the transaction, the insider now owns 122,548 shares in the company, valued at approximately $9,210,707.68. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the transaction, the insider now owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock valued at $5,409,027 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Securities reissued a “buy” rating and set a $120.00 target price on shares of CAVA Group in a report on Friday, May 16th. Loop Capital reduced their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Sanford C. Bernstein raised shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Wednesday, April 23rd. UBS Group reduced their target price on shares of CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

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.