Focus Partners Wealth Increases Stock Position in CAVA Group, Inc. $CAVA

Key Points

• Focus Partners Wealth increased its stake in CAVA Group by 20.4% during the first quarter, acquiring a total of 156,533 shares valued at approximately $13.5 million.
• Wall Street analysts have adjusted their target prices for CAVA Group, with Bank of America and Piper Sandler both lowering their targets to $100, while the consensus rating remains a "Moderate Buy."
• Insider trading shows notable activity, including the sale of 48,360 shares by company executives, indicating a decrease in their ownership positions.

Focus Partners Wealth lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 20.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,533 shares of the company's stock after acquiring an additional 26,529 shares during the quarter. Focus Partners Wealth owned 0.14% of CAVA Group worth $13,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in CAVA Group by 17,386.7% during the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock worth $6,377,000 after purchasing an additional 73,372 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CAVA Group by 123.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company's stock worth $472,000 after buying an additional 3,015 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CAVA Group by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company's stock worth $47,952,000 after buying an additional 27,066 shares in the last quarter. SG Americas Securities LLC grew its stake in CAVA Group by 768.4% in the 1st quarter. SG Americas Securities LLC now owns 220,816 shares of the company's stock valued at $19,081,000 after acquiring an additional 195,389 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in CAVA Group during the 1st quarter valued at about $257,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAVA shares. TD Cowen cut their target price on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Citigroup reduced their target price on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price on CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Finally, Bank of America reduced their price objective on CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $96.41.

CAVA Group Trading Up 2.8%

Shares of CAVA Group stock traded up $1.74 during trading hours on Thursday, reaching $64.13. 1,767,934 shares of the company's stock were exchanged, compared to its average volume of 3,825,687. CAVA Group, Inc. has a 52-week low of $61.90 and a 52-week high of $172.43. The company has a fifty day moving average of $76.83 and a 200-day moving average of $82.06. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 3.15 and a beta of 2.61.

CAVA Group (NYSE:CAVA - Get Free Report) last released 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 firm had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The business's quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.