Newbridge Financial Services Group Inc. Sells 1,265 Shares of CAVA Group, Inc. (NYSE:CAVA)

Newbridge Financial Services Group Inc. cut its holdings in CAVA Group, Inc. (NYSE:CAVA) by 35.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,310 shares of the company’s stock after selling 1,265 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in CAVA Group were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAVA. Dimensional Fund Advisors LP increased its position in CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after buying an additional 184 shares in the last quarter. CWM LLC raised its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the period. Jaffetilchin Investment Partners LLC grew its position in CAVA Group by 4.2% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock valued at $641,000 after purchasing an additional 278 shares during the period. Jamison Private Wealth Management Inc. bought a new stake in CAVA Group during the 2nd quarter valued at $28,000. Finally, Nemes Rush Group LLC bought a new position in shares of CAVA Group in the second quarter valued at $28,000. 73.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAVA. Barclays upped their target price on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. TD Cowen raised their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Stifel Nicolaus lifted their target price on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Citigroup increased their price target on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird lifted their price objective on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.64.

CAVA Group Stock Performance

Shares of CAVA stock opened at $122.90 on Thursday. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 299.74 and a beta of 3.34. CAVA Group, Inc. has a 52 week low of $29.05 and a 52 week high of $131.82. The firm’s 50-day simple moving average is $106.86 and its two-hundred day simple moving average is $88.41.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

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.