Integrated Wealth Concepts LLC Purchases 2,461 Shares of CAVA Group, Inc. $CAVA

Integrated Wealth Concepts LLC raised its position in CAVA Group, Inc. (NYSE:CAVA) by 36.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,139 shares of the company’s stock after purchasing an additional 2,461 shares during the period. Integrated Wealth Concepts LLC’s holdings in CAVA Group were worth $790,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted 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 during the period. Vision Financial Markets LLC acquired a new position in shares of CAVA Group in the first quarter valued at approximately $26,000. Dagco Inc. acquired a new position in shares of CAVA Group in the first quarter valued at approximately $27,000. Versant Capital Management Inc acquired a new position in shares of CAVA Group in the first quarter valued at approximately $31,000. Finally, Brooklyn Investment Group boosted its holdings in shares of CAVA Group by 168.0% in the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 252 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAVA. Robert W. Baird set a $95.00 target price on CAVA Group in a research report on Wednesday, August 13th. Cfra Research raised CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. Barclays dropped their target price on CAVA Group from $91.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Melius began coverage on shares of CAVA Group in a report on Monday, July 14th. They set a “hold” rating and a $95.00 target price for the company. Finally, Bank of America reduced their target price on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $96.41.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 3,062 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $230,139.92. Following the transaction, the insider directly owned 350,209 shares of the company’s stock, valued at $26,321,708.44. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Schulman sold 31,856 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at $59,550,620.88. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,360 shares of company stock valued at $3,634,738. 6.80% of the stock is currently owned by insiders.

CAVA Group Trading Down 0.9%

NYSE CAVA opened at $63.74 on Friday. The firm’s fifty day moving average price is $78.31 and its two-hundred day moving average price is $82.72. CAVA Group, Inc. has a 1 year low of $63.17 and a 1 year high of $172.43. The firm has a market capitalization of $7.39 billion, a P/E ratio of 53.56, a price-to-earnings-growth ratio of 3.22 and a beta of 2.61.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

About CAVA Group

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.