Ameriprise Financial Inc. Reduces Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Ameriprise Financial Inc. cut its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,436 shares of the company's stock after selling 201,964 shares during the period. Ameriprise Financial Inc.'s holdings in CAVA Group were worth $1,628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CAVA. Arcadia Investment Management Corp MI purchased a new position in CAVA Group during the fourth quarter valued at approximately $25,000. Allworth Financial LP raised its position in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. boosted its position in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its stake in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 283 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kelly Costanza sold 10,243 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the sale, the insider now directly owns 125,347 shares of the company's stock, valued at approximately $10,858,810.61. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on CAVA shares. Loop Capital lowered their price target on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. TD Securities restated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Barclays lowered their price objective on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. 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. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

CAVA Group Price Performance

CAVA stock traded up $0.94 during trading on Wednesday, hitting $82.00. 3,260,892 shares of the company traded hands, compared to its average volume of 3,103,976. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The company has a market cap of $9.48 billion, a PE ratio of 178.26 and a beta of 3.28. The stock's 50-day simple moving average is $88.18 and its 200 day simple moving average is $106.91.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 5.88% and a return on equity of 9.10%. The business's revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. Research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.