M&T Bank Corp Sells 1,271 Shares of CAVA Group, Inc. (NYSE:CAVA)

M&T Bank Corp decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,955 shares of the company’s stock after selling 1,271 shares during the quarter. M&T Bank Corp’s holdings in CAVA Group were worth $687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CAVA. Vanguard Group Inc. raised its holdings in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the last quarter. FMR LLC raised its holdings in shares of CAVA Group by 14.1% in the fourth quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after purchasing an additional 491,320 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of CAVA Group by 33.0% in the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after purchasing an additional 363,814 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of CAVA Group by 2.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company’s stock valued at $156,716,000 after purchasing an additional 31,077 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of CAVA Group by 62.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company’s stock valued at $140,572,000 after purchasing an additional 480,900 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares of the company’s stock, valued at $17,763,690.20. This represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the transaction, the insider directly owned 353,271 shares in the company, valued at $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 worth $5,409,027 over the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of CAVA Group from $104.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, June 25th. Robert W. Baird lifted their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. UBS Group reduced their price objective on shares of CAVA Group from $125.00 to $112.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, TD Securities reaffirmed a “buy” rating and set a $120.00 price objective on shares of CAVA Group in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $115.00.

CAVA Group Stock Performance

NYSE CAVA opened at $88.25 on Wednesday. The company has a market capitalization of $10.21 billion, a P/E ratio of 73.54, a P/E/G ratio of 4.22 and a beta of 2.65. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The stock has a 50 day moving average price of $84.14 and a 200-day moving average price of $96.32.

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

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.