CAVA Group, Inc. $CAVA Shares Sold by Sandler Capital Management

Key Points

• Sandler Capital Management reduced its holdings in CAVA Group by 65.1%, selling 24,431 shares during the first quarter, leaving it with 13,070 shares valued at approximately $1.13 million.
• Insider sales included CFO Tricia K. Tolivar and CAO Adam David Phillips selling a combined total of over 5,500 shares at an average price of $75.16, reflecting a decrease in their ownership stakes.
• Analysts have recently adjusted their price targets for CAVA Group, with Barclays lowering it from $91 to $74 and Bank of America from $121 to $100, while the consensus rating remains a "Moderate Buy" with a target of $96.41.

Sandler Capital Management trimmed its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 65.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,070 shares of the company's stock after selling 24,431 shares during the period. Sandler Capital Management's holdings in CAVA Group were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CAVA. Whittier Trust Co. of Nevada Inc. grew its stake in CAVA Group by 37.3% in the 1st 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 period. Miracle Mile Advisors LLC grew its stake in CAVA Group by 1.9% in the 1st 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 period. Regent Peak Wealth Advisors LLC grew its stake in CAVA Group by 6.2% in the 1st 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 period. Mercer Global Advisors Inc. ADV grew its stake in CAVA Group by 6.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,444 shares of the company's stock worth $388,000 after acquiring an additional 201 shares during the period. Finally, Frontier Capital Management Co. LLC grew its stake in CAVA Group by 4.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 5,075 shares of the company's stock worth $572,000 after acquiring an additional 203 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 0.3%

Shares of NYSE CAVA traded down $0.17 during trading on Tuesday, hitting $65.17. 4,667,984 shares of the company traded hands, compared to its average volume of 6,220,613. CAVA Group, Inc. has a 1 year low of $63.80 and a 1 year high of $172.43. The company has a 50-day moving average price of $79.57 and a 200-day moving average price of $83.37. The firm has a market capitalization of $7.56 billion, a P/E ratio of 54.77, a P/E/G ratio of 3.27 and a beta of 2.61.

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

Analysts Set New Price Targets

Several research firms have commented on CAVA. Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Sanford C. Bernstein set a $74.00 target price on shares of CAVA Group in a research note on Wednesday, August 13th. Barclays lowered their target price on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Argus set a $76.00 target price on shares of CAVA Group in a research note on Tuesday, September 2nd. Finally, Cfra Research raised shares of CAVA Group to a "strong-buy" rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.41.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 4,845 shares of CAVA Group stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Adam David Phillips sold 739 shares of CAVA Group stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $55,543.24. Following the transaction, the chief accounting officer owned 11,063 shares in the company, valued at $831,495.08. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,360 shares of company stock worth $3,634,738. 12.10% of the stock is owned by corporate 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.