Atria Wealth Solutions Inc. Sells 4,678 Shares of CAVA Group, Inc. $CAVA

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in CAVA Group by 61.5%, owning 2,928 shares worth $253,000 after selling 4,678 shares during the first quarter.
• Multiple hedge funds have made significant changes to their positions in CAVA, with First Horizon Advisors Inc. increasing its holdings by 1,400% during the same period.
• Analysts have adjusted their price targets for CAVA Group's stock, with estimates ranging from $75.00 to $100.00, reflecting a shift in analyst sentiment.

Atria Wealth Solutions Inc. lessened its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,928 shares of the company's stock after selling 4,678 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in CAVA Group were worth $253,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Utah Retirement Systems increased its stake in shares of CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of CAVA Group by 37.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after purchasing an additional 144 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in shares of CAVA Group by 1.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock worth $713,000 after purchasing an additional 150 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of CAVA Group by 7.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after purchasing an additional 159 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC increased its stake in shares of CAVA Group by 6.2% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock worth $274,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Buying and Selling

In other news, insider Jennifer Somers sold 2,861 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $215,032.76. Following the transaction, the insider owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. This trade represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 4,845 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the completion of the transaction, the chief financial officer directly owned 236,345 shares in the company, valued at $17,763,690.20. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,360 shares of company stock worth $3,634,738. 12.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on CAVA shares. UBS Group dropped their price target on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Morgan Stanley decreased their price objective on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Piper Sandler decreased their price objective on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. Finally, Citigroup decreased their price objective on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.44.

CAVA Group Trading Down 0.6%

Shares of CAVA Group stock traded down $0.43 during mid-day trading on Wednesday, reaching $68.02. 2,215,700 shares of the stock were exchanged, compared to its average volume of 3,847,150. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 57.05, a price-to-earnings-growth ratio of 3.49 and a beta of 2.65. The firm has a 50-day simple moving average of $82.49 and a 200 day simple moving average of $90.14. CAVA Group, Inc. has a fifty-two week low of $65.70 and a fifty-two week high of $172.43.

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