Cerity Partners LLC Sells 3,428 Shares of CAVA Group, Inc. (NYSE:CAVA)

Cerity Partners LLC lowered its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 22.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,871 shares of the company's stock after selling 3,428 shares during the period. Cerity Partners LLC's holdings in CAVA Group were worth $1,026,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. First Horizon Advisors Inc. grew its stake in CAVA Group by 1,400.0% during 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 last quarter. Versant Capital Management Inc acquired a new position in CAVA Group in the first quarter valued at approximately $31,000. Whittier Trust Co. raised its holdings 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 purchasing an additional 127 shares during the period. Signaturefd LLC raised its holdings in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after acquiring an additional 283 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CAVA Group by 192.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company's stock worth $44,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CAVA shares. KeyCorp started coverage on shares of CAVA Group in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Robert W. Baird boosted their target price on shares of CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Melius began coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $115.06.

Insider Activity

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the 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 completion of the transaction, the insider owned 125,347 shares in the company, valued at $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Schulman sold 31,856 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the transaction, the chief executive officer owned 792,318 shares of the company's stock, valued at $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,951 shares of company stock valued at $5,409,027. 6.80% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

Shares of CAVA stock traded up $1.78 on Friday, hitting $88.04. The stock had a trading volume of 2,124,605 shares, compared to its average volume of 4,079,490. The business has a 50 day moving average of $82.74 and a 200 day moving average of $94.90. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 73.36, a price-to-earnings-growth ratio of 4.39 and a beta of 2.65. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data 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. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share 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.