Algert Global LLC Acquires 5,620 Shares of CAVA Group, Inc. $CAVA

Key Points

• Algert Global LLC increased its holdings in CAVA Group, Inc. by 20.4% during the first quarter, owning 33,141 shares valued at approximately $2.86 million.
• Insider selling activity occurred, with CAO Adam David Phillips selling 739 shares at $75.16 each, resulting in a total value of over $55,500.
• CAVA Group's stock performance remains volatile, recently trading around $68.59, with analysts adjusting price targets downwards amidst mixed reviews, leading to a consensus rating of "Moderate Buy".

Algert Global LLC grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,141 shares of the company's stock after acquiring an additional 5,620 shares during the quarter. Algert Global LLC's holdings in CAVA Group were worth $2,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its holdings in shares of CAVA Group by 7,003.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 127,373 shares of the company's stock worth $11,006,000 after purchasing an additional 125,580 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of CAVA Group by 1.8% during the first quarter. State of New Jersey Common Pension Fund D now owns 30,427 shares of the company's stock worth $2,629,000 after purchasing an additional 530 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of CAVA Group by 166.0% during the first quarter. American Century Companies Inc. now owns 213,463 shares of the company's stock worth $18,445,000 after purchasing an additional 133,222 shares during the last quarter. Ethic Inc. grew its holdings in shares of CAVA Group by 50.9% during the first quarter. Ethic Inc. now owns 7,782 shares of the company's stock worth $679,000 after purchasing an additional 2,624 shares during the last quarter. Finally, Horizon Investments LLC bought a new stake in shares of CAVA Group during the first quarter worth about $42,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CAVA. TD Cowen reduced their price target on CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. KeyCorp reduced their price target on CAVA Group from $100.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Piper Sandler reduced their price target on CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Citigroup reduced their price target on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Finally, Stifel Nicolaus reduced their target price on CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.47.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 31,856 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at approximately $59,550,620.88. This represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kelly Costanza sold 2,799 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $210,372.84. Following the transaction, the insider owned 122,548 shares in the company, valued at $9,210,707.68. The trade was a 2.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,360 shares of company stock worth $3,634,738. Company insiders own 6.80% of the company's stock.

CAVA Group Trading Up 1.6%

CAVA stock traded up $1.0510 during trading on Friday, hitting $68.3810. The company had a trading volume of 3,322,547 shares, compared to its average volume of 6,136,702. The business has a 50-day moving average of $81.98 and a 200-day moving average of $88.62. CAVA Group, Inc. has a one year low of $65.70 and a one year high of $172.43. The stock has a market cap of $7.93 billion, a PE ratio of 57.46, a PEG ratio of 3.43 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. During the same period in the prior year, the business posted $0.17 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. Research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

CAVA Group 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.