SG Americas Securities LLC Has $19.08 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

SG Americas Securities LLC lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 768.4% during the first quarter, Holdings Channel reports. The firm owned 220,816 shares of the company’s stock after purchasing an additional 195,389 shares during the quarter. SG Americas Securities LLC’s holdings in CAVA Group were worth $19,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group during the fourth quarter valued at $25,000. Allworth Financial LP grew its holdings in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after buying an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after buying an additional 283 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA opened at $78.41 on Wednesday. The company has a market cap of $9.07 billion, a PE ratio of 170.46 and a beta of 2.77. The stock has a 50-day moving average of $87.50 and a 200-day moving average of $104.92. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of research analyst reports. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Bank of America boosted their target price on CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Finally, TD Securities restated a “buy” rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares of the company’s stock, valued at $33,518,352.48. This represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kelly Costanza sold 10,243 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the transaction, the insider now directly owns 125,347 shares of the company’s stock, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

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.