Kingsview Wealth Management LLC Sells 3,506 Shares of CAVA Group, Inc. (NYSE:CAVA)

Kingsview Wealth Management LLC cut its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 14.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,782 shares of the company's stock after selling 3,506 shares during the period. Kingsview Wealth Management LLC's holdings in CAVA Group were worth $1,796,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAVA. First Horizon Advisors Inc. increased its position in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after buying an additional 266 shares during the period. Versant Capital Management Inc acquired a new stake in CAVA Group in the first quarter worth $31,000. Whittier Trust Co. increased its position in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after buying an additional 127 shares during the period. Signaturefd LLC grew its stake in shares of CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of CAVA Group by 192.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company's stock worth $44,000 after purchasing an additional 254 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Price Performance

CAVA Group stock traded up $0.72 during mid-day trading on Friday, hitting $87.49. The company's stock had a trading volume of 1,974,861 shares, compared to its average volume of 3,249,866. The firm's 50 day moving average is $83.74 and its 200 day moving average is $95.68. The company has a market cap of $10.12 billion, a PE ratio of 72.91, a price-to-earnings-growth ratio of 4.12 and a beta of 2.65. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. During the same period in the prior year, the business earned $0.12 EPS. The business's revenue for the quarter was up 28.1% on a year-over-year basis. As a group, analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 31,856 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the sale, the chief executive officer directly owned 792,318 shares of the company's stock, valued at $59,550,620.88. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $55,543.24. Following the sale, the chief accounting officer directly owned 11,063 shares of the company's stock, valued at $831,495.08. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,951 shares of company stock worth $5,409,027. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAVA shares. Citigroup increased their price target on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. TD Securities reissued a "buy" rating and issued a $120.00 price target on shares of CAVA Group in a research note on Friday, May 16th. Stifel Nicolaus decreased their price target on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Morgan Stanley set a $107.00 price target on CAVA Group and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, UBS Group decreased their price target on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.06.

CAVA Group 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.