Sei Investments Co. Reduces Holdings in CAVA Group, Inc. $CAVA

Key Points

• Sei Investments Co. reduced its stake in CAVA Group by 31.4% in Q1, now holding 40,442 shares valued at approximately $3.5 million.
• Analysts have provided mixed reviews on CAVA Group, with price targets ranging from $74.00 to $175.00, and a current average rating of "Moderate Buy."
• CAVA Group reported quarterly earnings of $0.16 per share against an expected $0.13, with revenue increasing by 20.2% year-over-year, though it fell short of expectations.

Sei Investments Co. reduced its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,442 shares of the company's stock after selling 18,486 shares during the quarter. Sei Investments Co.'s holdings in CAVA Group were worth $3,495,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Kovitz Investment Group Partners LLC boosted its stake in CAVA Group by 104.1% in the first quarter. Kovitz Investment Group Partners LLC now owns 4,969 shares of the company's stock valued at $429,000 after buying an additional 2,534 shares in the last quarter. Fox Hill Wealth Management boosted its stake in CAVA Group by 10.1% in the first quarter. Fox Hill Wealth Management now owns 26,330 shares of the company's stock valued at $2,275,000 after buying an additional 2,413 shares in the last quarter. Dagco Inc. acquired a new stake in CAVA Group in the first quarter valued at about $27,000. Trillium Asset Management LLC acquired a new stake in CAVA Group in the first quarter valued at about $4,367,000. Finally, AGF Management Ltd. boosted its stake in CAVA Group by 8.5% in the first quarter. AGF Management Ltd. now owns 98,381 shares of the company's stock valued at $8,501,000 after buying an additional 7,679 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Somers sold 2,861 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $215,032.76. Following the sale, the insider owned 137,048 shares in the company, valued at approximately $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,360 shares of company stock valued at $3,634,738 over the last 90 days. Corporate insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

CAVA Group stock traded down $2.04 during mid-day trading on Thursday, reaching $66.51. The stock had a trading volume of 1,033,788 shares, compared to its average volume of 3,837,711. CAVA Group, Inc. has a fifty-two week low of $65.70 and a fifty-two week high of $172.43. The stock's 50-day simple moving average is $82.32 and its 200-day simple moving average is $89.99. The firm has a market capitalization of $7.71 billion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 3.42 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results 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. The company had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.CAVA Group's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen reduced their price objective on CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. KeyCorp lowered their target price on CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. Melius started coverage on CAVA Group in a report on Monday, July 14th. They issued a "hold" rating and a $95.00 target price for the company. Finally, Sanford C. Bernstein set a $74.00 target price on CAVA Group in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.44.

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.