Financial Advocates Investment Management Has $387,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Financial Advocates Investment Management raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 12.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,125 shares of the company’s stock after buying an additional 349 shares during the period. Financial Advocates Investment Management’s holdings in CAVA Group were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new stake in CAVA Group during the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the second quarter valued at about $28,000. GAMMA Investing LLC grew its stake in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group in the 2nd quarter worth about $36,000. Finally, Headlands Technologies LLC bought a new stake in CAVA Group in the 2nd quarter valued at about $37,000. 73.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAVA. Robert W. Baird boosted their price target on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Citigroup boosted their price objective on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. UBS Group assumed coverage on CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Finally, Wedbush upped their price objective on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.71.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $131.53 on Monday. CAVA Group, Inc. has a 1 year low of $29.66 and a 1 year high of $141.25. The firm has a market cap of $15.04 billion, a PE ratio of 355.49 and a beta of 3.23. The company has a 50 day simple moving average of $126.65 and a 200 day simple moving average of $99.32.

CAVA Group (NYSE:CAVA) last issued 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. The company had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. CAVA Group’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group 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 completion of the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 over the last ninety days. 12.10% of the stock is owned by insiders.

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.