CAVA Group, Inc. (NYSE:CAVA) Stake Lessened by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in CAVA Group, Inc. by 19.5%, now holding 106,870 shares valued at approximately $9.2 million after selling 25,952 shares.
• During the first quarter, GAMMA Investing LLC dramatically increased its holdings in CAVA Group by 17,386.7%, while other firms also significantly raised their stakes in the company.
• CAVA Group reported a quarterly EPS of $0.22, surpassing analysts' expectations, and experienced a 28.1% year-over-year revenue growth.

Blair William & Co. IL trimmed its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 19.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,870 shares of the company's stock after selling 25,952 shares during the period. Blair William & Co. IL owned approximately 0.09% of CAVA Group worth $9,235,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Utah Retirement Systems increased its stake in CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after buying an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of CAVA Group by 37.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Miracle Mile Advisors LLC increased its position in shares of CAVA Group by 1.9% during the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock worth $713,000 after acquiring an additional 150 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of CAVA Group by 7.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after acquiring an additional 159 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC increased its position in shares of CAVA Group by 6.2% during the first quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock worth $274,000 after acquiring an additional 186 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of analyst reports. Citigroup lifted their target price on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. UBS Group set a $196.00 price target on shares of CAVA Group in a research note on Tuesday. KeyCorp initiated coverage on shares of CAVA Group in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Finally, TD Securities restated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.72.

CAVA Group Price Performance

NYSE:CAVA traded down $3.79 during midday trading on Friday, reaching $85.11. 4,082,840 shares of the company traded hands, compared to its average volume of 3,109,148. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 150.68, a price-to-earnings-growth ratio of 4.44 and a beta of 2.65. The company has a fifty day moving average price of $83.36 and a 200 day moving average price of $93.07. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The company had revenue of $331.83 million for the quarter, compared to analysts' expectations of $327.98 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, CFO Tricia K. Tolivar sold 4,845 shares of CAVA Group 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 $364,150.20. Following the sale, the chief financial officer owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 3,062 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $230,139.92. Following the sale, the insider directly owned 350,209 shares in the company, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,603 shares of company stock worth $4,522,089 over the last 90 days. Corporate insiders own 6.80% of the company's stock.

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.