CAVA Group, Inc. $CAVA Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 331,898 shares of the company’s stock after selling 8,445 shares during the quarter. Victory Capital Management Inc. owned 0.29% of CAVA Group worth $20,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAVA. Cornerstone Planning Group LLC raised its holdings in shares of CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of CAVA Group during the 2nd quarter valued at about $31,000. Toth Financial Advisory Corp grew its position in shares of CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares during the last quarter. Western Pacific Wealth Management LP acquired a new stake in CAVA Group during the third quarter worth about $33,000. Finally, CNB Bank raised its stake in CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock worth $35,000 after acquiring an additional 422 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. Morgan Stanley raised their price target on CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Mizuho boosted their price objective on CAVA Group from $52.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Benchmark raised CAVA Group to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, KeyCorp raised their target price on CAVA Group from $65.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.04.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the completion of the sale, the chief financial officer owned 231,934 shares of the company’s stock, valued at $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the transaction, the insider owned 332,205 shares of the company’s stock, valued at $20,643,218.70. This represents a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 39,055 shares of company stock valued at $2,572,303. 12.10% of the stock is owned by corporate insiders.

CAVA Group Price Performance

Shares of CAVA stock opened at $81.76 on Tuesday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 151.41, a price-to-earnings-growth ratio of 6.76 and a beta of 2.15. The business has a 50 day simple moving average of $68.67 and a 200 day simple moving average of $62.06.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.