CAVA Group, Inc. $CAVA Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC cut its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 85.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,376 shares of the company’s stock after selling 7,905 shares during the quarter. FNY Investment Advisers LLC’s holdings in CAVA Group were worth $80,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Liontrust Investment Partners LLP purchased a new position in shares of CAVA Group during the 3rd quarter valued at about $43,189,000. Valeo Financial Advisors LLC purchased a new stake in shares of CAVA Group in the second quarter worth about $57,824,000. Leibman Financial Services Inc. grew its holdings in CAVA Group by 162.9% during the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after acquiring an additional 41,712 shares during the period. Renaissance Capital LLC grew its holdings in CAVA Group by 42.7% during the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after acquiring an additional 31,651 shares during the period. Finally, Alliancebernstein L.P. raised its position in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after acquiring an additional 1,600,630 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the transaction, the insider directly owned 332,205 shares of the company’s stock, valued at $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Adam David Phillips sold 774 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the completion of the sale, the chief accounting officer owned 10,435 shares in the company, valued at approximately $648,430.90. This trade represents a 6.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,055 shares of company stock worth $2,572,303 in the last ninety days. Company insiders own 6.80% of the company’s stock.

CAVA Group Trading Down 0.1%

Shares of CAVA stock opened at $79.51 on Friday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50. The business’s 50 day moving average is $74.59 and its two-hundred day moving average is $64.28. The company has a market capitalization of $9.25 billion, a P/E ratio of 147.25, a P/E/G ratio of 6.79 and a beta of 2.03.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $274.99 million during 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 business’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. On average, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAVA. Piper Sandler boosted their price target on CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. UBS Group raised their price objective on shares of CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. BNP Paribas Exane assumed coverage on shares of CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 target price for the company. Johnson Rice set a $72.00 target price on shares of CAVA Group in a research note on Monday, January 5th. Finally, Truist Financial increased their price target on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.92.

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.