Bfsg LLC Cuts Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Bfsg LLC trimmed its position in CAVA Group, Inc. (NYSE:CAVA) by 40.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,323 shares of the company’s stock after selling 5,599 shares during the period. Bfsg LLC’s holdings in CAVA Group were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares in the last quarter. Capital Research Global Investors boosted its stake in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in CAVA Group during the 1st quarter worth approximately $38,225,000. Lord Abbett & CO. LLC increased its stake in CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after purchasing an additional 492,667 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after buying an additional 451,800 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAVA. Argus upped their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Jefferies Financial Group raised their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Barclays raised their price target on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Wedbush upped their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.64.

CAVA Group Stock Up 0.1 %

CAVA stock opened at $134.35 on Friday. CAVA Group, Inc. has a 52 week low of $29.66 and a 52 week high of $135.63. The firm has a 50-day simple moving average of $118.58 and a 200-day simple moving average of $93.35. The stock has a market capitalization of $15.32 billion, a P/E ratio of 327.68 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. CAVA Group’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. On average, analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current 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.