CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 31.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,442 shares of the company’s stock after selling 18,486 shares during the quarter. Sei Investments Co.’s holdings in CAVA Group were worth $3,495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CAVA. Utah Retirement Systems boosted its holdings in CAVA Group by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in CAVA Group by 37.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in CAVA Group by 1.9% in the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company’s stock valued at $713,000 after purchasing an additional 150 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in CAVA Group by 7.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company’s stock valued at $275,000 after purchasing an additional 159 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC boosted its holdings in CAVA Group by 6.2% in the first quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company’s stock valued at $274,000 after purchasing an additional 186 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAVA. Citigroup lowered their price target on CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday. KeyCorp set a $85.00 price objective on CAVA Group and gave the company an “overweight” rating in a research note on Wednesday. UBS Group reduced their price objective on CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday. Stifel Nicolaus reduced their price objective on CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. Finally, Sanford C. Bernstein set a $74.00 price objective on CAVA Group in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.44.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $69.76 on Friday. The stock has a fifty day moving average price of $82.85 and a 200 day moving average price of $91.38. CAVA Group, Inc. has a 1-year low of $65.70 and a 1-year high of $172.43. The company has a market cap of $8.09 billion, a PE ratio of 58.62, a P/E/G ratio of 3.45 and a beta of 2.65.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%. CAVA Group’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. Analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the completion of the transaction, the insider owned 350,209 shares in the company, valued at approximately $26,321,708.44. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Somers sold 2,861 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the transaction, the insider owned 137,048 shares of the company’s stock, valued at $10,300,527.68. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,603 shares of company stock valued at $4,522,089 in the last three months. Insiders own 6.80% of the company’s stock.

CAVA Group Profile

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.