Janney Montgomery Scott LLC Buys 20,312 Shares of CAVA Group, Inc. (NYSE:CAVA)

Janney Montgomery Scott LLC increased its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 75.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,405 shares of the company's stock after purchasing an additional 20,312 shares during the quarter. Janney Montgomery Scott LLC's holdings in CAVA Group were worth $4,096,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in CAVA Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock worth $59,544,000 after acquiring an additional 11,776 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of CAVA Group by 17,386.7% in the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock valued at $6,377,000 after buying an additional 73,372 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in CAVA Group during the 4th quarter worth about $2,697,000. Natixis Advisors LLC grew its holdings in CAVA Group by 54.1% during the 4th quarter. Natixis Advisors LLC now owns 16,922 shares of the company's stock worth $1,909,000 after acquiring an additional 5,940 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in CAVA Group by 46.7% in the 4th quarter. Victory Capital Management Inc. now owns 29,851 shares of the company's stock valued at $3,367,000 after acquiring an additional 9,497 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 739 shares of CAVA Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the completion of the transaction, the chief accounting officer now owns 11,063 shares of the company's stock, valued at $831,495.08. This trade represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Theodoros Xenohristos sold 9,348 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,951 shares of company stock valued at $5,409,027 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

CAVA Group Stock Performance

NYSE CAVA traded up $0.37 during trading hours on Friday, reaching $78.04. 6,821,422 shares of the company's stock were exchanged, compared to its average volume of 3,166,312. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 65.03, a price-to-earnings-growth ratio of 3.46 and a beta of 2.77. The company's 50-day moving average is $85.11 and its two-hundred day moving average is $99.57. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million during 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 company's revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several research analyst reports. Bank of America increased their price target on shares of CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Citigroup increased their price objective on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Stifel Nicolaus dropped their target price on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Robert W. Baird upped their price target on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.94.

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.