CAVA Group, Inc. $CAVA Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its holdings in CAVA Group, Inc. (NYSE:CAVA) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,105,836 shares of the company’s stock after selling 39,183 shares during the period. William Blair Investment Management LLC owned 0.95% of CAVA Group worth $59,826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in CAVA Group in the 2nd quarter valued at about $757,013,000. Wellington Management Group LLP grew its position in shares of CAVA Group by 76.9% in the second quarter. Wellington Management Group LLP now owns 1,605,508 shares of the company’s stock valued at $126,000,000 after purchasing an additional 697,699 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of CAVA Group in the second quarter valued at approximately $92,956,000. Prime Capital Management Co Ltd purchased a new stake in shares of CAVA Group in the second quarter valued at approximately $80,962,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CAVA Group by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 778,093 shares of the company’s stock valued at $62,931,000 after purchasing an additional 12,698 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In other CAVA Group news, insider Douglas Thompson purchased 6,500 shares of the stock in a transaction dated Monday, August 31st. The stock was acquired at an average cost of $66.52 per share, for a total transaction of $432,380.00. Following the acquisition, the insider owned 19,371 shares in the company, valued at $1,288,558.92. This trade represents a 50.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.70% of the stock is currently owned by company insiders.

CAVA Group Price Performance

CAVA traded up $0.78 during trading hours on Friday, reaching $58.13. The company’s stock had a trading volume of 2,512,841 shares, compared to its average volume of 3,551,690. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79. The stock has a market cap of $6.79 billion, a PE ratio of 107.65, a P/E/G ratio of 4.48 and a beta of 1.75. The business’s 50-day moving average is $55.35 and its 200-day moving average is $70.96.

CAVA Group (NYSE:CAVA) last posted its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). CAVA Group had a return on equity of 7.87% and a net margin of 4.50%. The business had revenue of $356.44 million for the quarter, compared to analyst estimates of $358.40 million. During the same period last year, the business earned $0.12 EPS. CAVA Group’s revenue was up 21.0% compared to the same quarter last year. Analysts expect that CAVA Group, Inc. will post 0.53 EPS for the current year.

CAVA Group announced that its Board of Directors has initiated a stock repurchase plan on Friday, September 18th that authorizes the company to buy back $100 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of analyst reports. Wall Street Zen downgraded CAVA Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Melius Research upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Thursday, October 8th. Mizuho cut their target price on CAVA Group from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, November 9th. DA Davidson reduced their price target on CAVA Group from $84.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Finally, TD Cowen lowered their price target on shares of CAVA Group from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

CAVA Group Profile

CAVA Group operates CAVA, a fast-casual restaurant brand focused on Mediterranean-inspired food. Its menu includes customizable bowls, pitas and salads, along with dips, spreads, sides and beverages. The business began in 2006 with a Mediterranean restaurant in Rockville, Maryland, founded by childhood friends Brett Schulman, Dimitri Moshovitis and Ted Xenohristos. CAVA has since grown into a restaurant chain serving customers in multiple U.S. states. Co-founder Brett Schulman serves as CAVA Group’s chief executive officer.