Raymond James & Associates Cuts Stake in CAVA Group, Inc. (NYSE:CAVA)

Raymond James & Associates cut its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 28.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 122,821 shares of the company’s stock after selling 47,970 shares during the period. Raymond James & Associates’ holdings in CAVA Group were worth $15,211,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Toth Financial Advisory Corp raised its holdings in CAVA Group by 197.6% in the first quarter. Toth Financial Advisory Corp now owns 1,506 shares of the company’s stock worth $105,000 after buying an additional 1,000 shares during the last quarter. Aviance Capital Partners LLC raised its holdings in CAVA Group by 17.1% in the 1st quarter. Aviance Capital Partners LLC now owns 41,000 shares of the company’s stock worth $2,872,000 after acquiring an additional 6,000 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in CAVA Group by 4.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,574 shares of the company’s stock valued at $531,000 after acquiring an additional 318 shares in the last quarter. DMC Group LLC purchased a new stake in CAVA Group during the 1st quarter valued at $243,000. Finally, Maryland State Retirement & Pension System bought a new stake in shares of CAVA Group in the 1st quarter worth $264,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $136.09 on Friday. The stock has a market cap of $15.52 billion, a P/E ratio of 331.93 and a beta of 3.33. The stock’s fifty day moving average is $123.64 and its 200 day moving average is $96.56. CAVA Group, Inc. has a one year low of $29.66 and a one year high of $140.69.

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

Insiders Place Their Bets

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $36,762,264. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated 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 owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were 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 $36,762,264. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 over the last three months. 12.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group started coverage on CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Loop Capital upped their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Robert W. Baird lifted their price target on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Stifel Nicolaus lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.93.

CAVA Group Company Profile

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.