Congress Asset Management Co. Decreases Stake in CAVA Group, Inc. $CAVA

Congress Asset Management Co. lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 38.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 410,502 shares of the company’s stock after selling 258,751 shares during the quarter. Congress Asset Management Co. owned 0.35% of CAVA Group worth $24,092,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quadcap Wealth Management LLC boosted its position in CAVA Group by 1.4% in the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock valued at $755,000 after buying an additional 124 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its position in shares of CAVA Group by 5.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock worth $237,000 after acquiring an additional 150 shares during the last quarter. Nautilus Advisors LLC increased its position in shares of CAVA Group by 7.5% during the second quarter. Nautilus Advisors LLC now owns 2,673 shares of the company’s stock worth $225,000 after acquiring an additional 186 shares during the last quarter. Dearborn Partners LLC lifted its stake in shares of CAVA Group by 8.2% in the second quarter. Dearborn Partners LLC now owns 2,649 shares of the company’s stock worth $223,000 after acquiring an additional 200 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of CAVA Group by 6.0% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 3,852 shares of the company’s stock worth $233,000 after acquiring an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Argus reiterated a “hold” rating on shares of CAVA Group in a research report on Friday, February 27th. Johnson Rice set a $72.00 price target on CAVA Group in a report on Monday, January 5th. TD Cowen boosted their price objective on CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Mizuho upped their price objective on CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer owned 807,325 shares in the company, valued at approximately $54,421,778.25. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kelly Costanza sold 1,707 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the transaction, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 39,055 shares of company stock valued at $2,572,303. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 3.1%

Shares of NYSE:CAVA opened at $84.41 on Wednesday. The firm’s 50 day moving average is $73.05 and its two-hundred day moving average is $63.44. The firm has a market capitalization of $9.82 billion, a P/E ratio of 156.31, a PEG ratio of 7.43 and a beta of 2.16. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same period last year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

About CAVA Group

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.