CAVA Group, Inc. (NYSE:CAVA) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 16.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,666 shares of the company’s stock after selling 3,577 shares during the quarter. ClariVest Asset Management LLC’s holdings in CAVA Group were worth $1,639,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Research Global Investors boosted its position in CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Vanguard Group Inc. lifted its stake in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after purchasing an additional 492,667 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of CAVA Group by 21.6% in the fourth quarter. Franklin Resources Inc. now owns 715,325 shares of the company’s stock valued at $30,745,000 after purchasing an additional 127,146 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA stock opened at $121.29 on Thursday. The firm has a market cap of $13.83 billion, a P/E ratio of 295.83 and a beta of 3.32. The firm’s 50 day moving average price is $95.47 and its 200-day moving average price is $81.57. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $128.18.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. As a group, research analysts predict that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price objective on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Loop Capital boosted their price target on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Wedbush upped their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Citigroup lifted their target price on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Robert W. Baird increased their price target on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $111.58.

Insider Buying and Selling

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Schulman sold 66,414 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the transaction, the chief executive officer now owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 493,579 shares of company stock valued at $55,510,751.

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.