Golden State Wealth Management LLC Has $73,000 Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Golden State Wealth Management LLC lifted its stake in CAVA Group, Inc. (NYSE:CAVA) by 101.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 848 shares of the company’s stock after acquiring an additional 428 shares during the period. Golden State Wealth Management LLC’s holdings in CAVA Group were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Spire Wealth Management boosted its stake in CAVA Group by 7.6% during the first quarter. Spire Wealth Management now owns 10,028 shares of the company’s stock worth $867,000 after buying an additional 706 shares in the last quarter. S.A. Mason LLC boosted its stake in CAVA Group by 36.7% during the first quarter. S.A. Mason LLC now owns 5,224 shares of the company’s stock worth $451,000 after buying an additional 1,403 shares in the last quarter. Econ Financial Services Corp acquired a new stake in CAVA Group during the first quarter worth $658,000. APEIRON CAPITAL Ltd acquired a new stake in CAVA Group during the first quarter worth $786,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in CAVA Group during the first quarter worth $370,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

CAVA has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Wall Street Zen cut CAVA Group from a “hold” rating to a “sell” rating in a report on Friday. TD Securities reissued a “buy” rating and set a $120.00 price objective on shares of CAVA Group in a report on Friday, May 16th. Finally, Citigroup lifted their price objective on CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

CAVA Group Price Performance

CAVA opened at $84.43 on Tuesday. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 70.36, a price-to-earnings-growth ratio of 3.65 and a beta of 2.79. The firm has a 50 day simple moving average of $85.03 and a 200 day simple moving average of $98.58. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to the consensus estimate 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 for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In related news, insider Jennifer Somers sold 2,861 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the sale, the insider directly owned 137,048 shares of the company’s stock, valued at $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brett Schulman sold 31,856 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the sale, the chief executive officer directly owned 792,318 shares of the company’s stock, valued at approximately $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,951 shares of company stock valued at $5,409,027 over the last 90 days. Company insiders own 12.10% of the company’s stock.

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.