PFG Investments LLC Cuts Holdings in CAVA Group, Inc. $CAVA

PFG Investments LLC decreased its holdings in CAVA Group, Inc. (NYSE:CAVA) by 79.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,683 shares of the company’s stock after selling 18,477 shares during the quarter. PFG Investments LLC’s holdings in CAVA Group were worth $379,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. DMC Group LLC increased its holdings in shares of CAVA Group by 3.7% in the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after acquiring an additional 157 shares during the period. Bridgewater Associates LP lifted its stake in shares of CAVA Group by 2.4% during the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after purchasing an additional 163 shares during the last quarter. Western Pacific Wealth Management LP boosted its position in CAVA Group by 32.5% during the fourth quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock valued at $43,000 after purchasing an additional 179 shares in the last quarter. Allworth Financial LP boosted its position in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in CAVA Group by 18.2% in the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock valued at $92,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CAVA shares. Morgan Stanley boosted their target price on shares of CAVA Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Piper Sandler increased their target price on shares of CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, BNP Paribas Exane initiated coverage on shares of CAVA Group in a research note on Monday, March 30th. They issued a “neutral” rating and a $91.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.44.

Insider Buying and Selling at CAVA Group

In other news, Director Karen Kochevar sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director owned 3,074 shares in the company, valued at $276,660. This represents a 76.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the transaction, the insider directly owned 98,490 shares of the company’s stock, valued at approximately $8,864,100. This trade represents a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 91,747 shares of company stock worth $7,970,838. Corporate insiders own 6.70% of the company’s stock.

CAVA Group Stock Performance

CAVA Group stock opened at $67.63 on Thursday. The business’s 50-day simple moving average is $80.56 and its two-hundred day simple moving average is $76.67. The company has a market cap of $7.88 billion, a PE ratio of 130.06, a PEG ratio of 4.78 and a beta of 1.69. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

CAVA Group Profile

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.