CAVA Group, Inc. $CAVA Stock Position Lowered by Nemes Rush Group LLC

Nemes Rush Group LLC lessened its position in CAVA Group, Inc. (NYSE:CAVA) by 91.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,461 shares of the company’s stock after selling 15,404 shares during the period. Nemes Rush Group LLC’s holdings in CAVA Group were worth $86,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC raised its stake in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after buying an additional 400 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of CAVA Group in the 3rd quarter worth $36,000. Allworth Financial LP grew its holdings in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after acquiring an additional 237 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of CAVA Group by 115.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $72.57 on Monday. The business’s 50-day moving average price is $83.16 and its two-hundred day moving average price is $71.79. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79. The company has a market capitalization of $8.45 billion, a P/E ratio of 139.55, a price-to-earnings-growth ratio of 4.98 and a beta of 1.70.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the transaction, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer owned 9,505 shares in the company, valued at $733,215.70. This trade represents a 35.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,235 shares of company stock worth $1,920,420 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wolfe Research assumed coverage on CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price on the stock. Weiss Ratings upgraded CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. DA Davidson lifted their target price on CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Citigroup lifted their price target on CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, BNP Paribas Exane initiated coverage on CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

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.