CAVA Group, Inc. (NYSE:CAVA) Stock Position Lifted by LPL Financial LLC

LPL Financial LLC grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 26.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,939 shares of the company’s stock after acquiring an additional 38,809 shares during the period. LPL Financial LLC owned 0.16% of CAVA Group worth $15,894,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of CAVA Group by 17,386.7% in the 1st quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock worth $6,377,000 after purchasing an additional 73,372 shares during the last quarter. SG Americas Securities LLC raised 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 buying an additional 195,389 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of CAVA Group in the first quarter valued at approximately $257,000. Yousif Capital Management LLC acquired a new stake in shares of CAVA Group in the first quarter valued at approximately $2,429,000. Finally, Golden State Wealth Management LLC grew its stake in shares of CAVA Group by 101.9% in the first quarter. Golden State Wealth Management LLC now owns 848 shares of the company’s stock valued at $73,000 after buying an additional 428 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAVA shares. Wall Street Zen cut shares of CAVA Group from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Robert W. Baird boosted their target price on CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their price target on CAVA Group from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Finally, Citigroup raised their price target on shares of CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $119.72.

CAVA Group Stock Down 1.4%

Shares of CAVA opened at $86.35 on Thursday. The stock has a market cap of $9.99 billion, a P/E ratio of 71.96, a P/E/G ratio of 4.37 and a beta of 2.65. The business’s fifty day moving average is $83.14 and its 200 day moving average is $93.52. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) 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 firm had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period last year, the firm posted $0.12 EPS. The business’s revenue was up 28.1% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 3,062 shares of CAVA Group stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the completion of the sale, the insider owned 350,209 shares of the company’s stock, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 739 shares of CAVA Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the transaction, the chief accounting officer directly owned 11,063 shares of the company’s stock, valued at $831,495.08. The trade was a 6.26% 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 in the last quarter. 6.80% of the stock is currently owned by company insiders.

CAVA Group 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.