Amundi Has $14.62 Million Position in CAVA Group, Inc. $CAVA

Key Points

• Amundi cut its CAVA Group stake by 35.8% in the second quarter, selling 103,946 shares and retaining 186,335 shares valued at approximately $14.62 million. Institutional investors collectively own 73.15% of the company.
• CAVA reported quarterly EPS of $0.19, topping estimates by $0.01, while revenue reached $368.44 million—up 31.3% year over year and above analyst expectations.
• Despite the stock trading at a high valuation, analysts maintain a “Moderate Buy” consensus with an average price target of $89.44, well above the reported $55.76 share price.

Amundi reduced its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 35.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 186,335 shares of the company's stock after selling 103,946 shares during the quarter. Amundi owned about 0.16% of CAVA Group worth $14,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAVA. Oppenheimer Asset Management Inc. acquired a new stake in CAVA Group in the 2nd quarter valued at $1,551,000. Trillium Asset Management LLC bought a new position in shares of CAVA Group in the second quarter valued at approximately $3,279,000. Prospect Financial Services LLC bought a new stake in shares of CAVA Group during the 2nd quarter worth $1,348,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $6,833,000. Finally, Prime Capital Management Co Ltd increased its position in CAVA Group by 90.6% in the fourth quarter. Prime Capital Management Co Ltd now owns 1,031,630 shares of the company's stock worth $60,546,000 after buying an additional 490,300 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Trading Up 3.3%

Shares of CAVA stock opened at $55.76 on Friday. The stock has a market cap of $6.51 billion, a PE ratio of 101.38, a price-to-earnings-growth ratio of 4.19 and a beta of 1.74. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The company's fifty day moving average price is $65.92 and its 200-day moving average price is $76.83.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The business's revenue was up 31.3% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CAVA. Wall Street Zen raised shares of CAVA Group from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. Northcoast Research raised CAVA Group from a "sell" rating to a "neutral" rating in a report on Thursday, August 13th. Guggenheim lowered their price target on CAVA Group from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. UBS Group upgraded shares of CAVA Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $90.00 in a research report on Wednesday, June 10th. Finally, Stifel Nicolaus increased their price objective on CAVA Group from $90.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and a consensus target price of $89.44.

Insiders Place Their Bets

In related news, CFO Tricia K. Tolivar sold 4,969 shares of CAVA Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $444,377.67. Following the completion of the sale, the chief financial officer directly owned 234,931 shares in the company, valued at approximately $21,009,879.33. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the transaction, the insider directly owned 98,490 shares of the company's stock, valued at $8,864,100. The trade was a 11.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 67,512 shares of company stock valued at $6,050,417. 6.70% of the stock is owned by company insiders.

CAVA Group Company Profile

CAVA Group, Inc is a U.S.-based restaurant company that operates the CAVA fast-casual Mediterranean restaurant brand. Its restaurants offer customizable meals, including grain bowls, salads, pitas, dips, spreads and sides made with Mediterranean-inspired ingredients and flavors. Customers can order meals in restaurants, through digital channels and for catering.

The company's menu is centered on a build-your-own format, allowing guests to select proteins, grains, greens, toppings, sauces and dips.

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