CAVA Group, Inc. (NYSE:CAVA) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 46.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,098 shares of the company’s stock after purchasing an additional 1,619 shares during the period. Avantax Advisory Services Inc.’s holdings in CAVA Group were worth $441,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CAVA. First Horizon Advisors Inc. increased its holdings in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after buying an additional 266 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of CAVA Group during the first quarter valued at $31,000. NCP Inc. acquired a new position in shares of CAVA Group in the 1st quarter valued at $44,000. Whittier Trust Co. of Nevada Inc. raised its holdings in CAVA Group by 37.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock worth $46,000 after buying an additional 144 shares during the period. Finally, Signaturefd LLC lifted its stake in CAVA Group by 148.9% during the first quarter. Signaturefd LLC now owns 784 shares of the company’s stock valued at $68,000 after buying an additional 469 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 19th. Stifel Nicolaus cut their target price on shares of CAVA Group from $175.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, June 18th. Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 16th. UBS Group set a $196.00 price target on CAVA Group in a report on Tuesday. Finally, Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.72.

CAVA Group Stock Performance

CAVA opened at $86.35 on Thursday. The company has a market cap of $9.99 billion, a PE ratio of 71.96, a price-to-earnings-growth ratio of 4.37 and a beta of 2.65. The stock has a 50-day moving average of $83.14 and a 200-day moving average of $93.52. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. During the same quarter last year, the company posted $0.12 earnings per share. CAVA Group’s quarterly revenue was up 28.1% on a year-over-year basis. On average, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider owned 353,271 shares in the company, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $215,032.76. Following the sale, the insider owned 137,048 shares in the company, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,951 shares of company stock valued at $5,409,027 in the last three months. Company insiders own 6.80% 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.