Baird Financial Group Inc. Decreases Stake in CAVA Group, Inc. $CAVA

Key Points

• Baird Financial Group Inc. reduced its holdings in CAVA Group, Inc. by 25.4%, bringing their total shares to 38,650 after selling 13,158 shares in the first quarter.
• CAVA Group recently reported earnings of $0.16 per share, exceeding expectations but missing quarterly revenue projections with $280.62 million generated.
• Analysts have lowered their target prices for CAVA stock, with Bank of America revising its target from $121.00 to $100.00, while the consensus rating remains a "Moderate Buy" with an average price target of $96.41.

Baird Financial Group Inc. lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,650 shares of the company's stock after selling 13,158 shares during the period. Baird Financial Group Inc.'s holdings in CAVA Group were worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAVA. First Horizon Advisors Inc. raised its holdings in shares of CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of CAVA Group during the first quarter worth $26,000. Dagco Inc. purchased a new position in shares of CAVA Group during the first quarter worth $27,000. Versant Capital Management Inc purchased a new position in shares of CAVA Group during the first quarter worth $31,000. Finally, Brooklyn Investment Group raised its holdings in shares of CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

NYSE CAVA traded down $1.22 on Monday, hitting $65.41. The company had a trading volume of 4,312,596 shares, compared to its average volume of 6,218,000. The company has a market capitalization of $7.58 billion, a PE ratio of 54.96, a PEG ratio of 3.33 and a beta of 2.62. The company's fifty day moving average price is $79.92 and its 200-day moving average price is $83.50. CAVA Group, Inc. has a 12-month low of $64.12 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on CAVA shares. KeyCorp reduced their target price on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 price target on shares of CAVA Group in a report on Wednesday, August 13th. Citigroup lowered their price target on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Melius assumed coverage on shares of CAVA Group in a report on Monday, July 14th. They set a "hold" rating and a $95.00 price target on the stock. Finally, Bank of America dropped their target price 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 investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, CAVA Group has a consensus rating of "Moderate Buy" and a consensus target price of $96.41.

Insider Buying and Selling

In related news, insider Jennifer Somers sold 2,861 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the sale, the insider owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. The trade was a 2.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $230,139.92. Following the completion of the sale, the insider directly owned 350,209 shares of the company's stock, valued at approximately $26,321,708.44. The trade was a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,360 shares of company stock worth $3,634,738 in the last 90 days. 12.10% of the stock is owned by insiders.

CAVA Group Company 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.