D.A. Davidson & CO. Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

D.A. Davidson & CO. acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,189 shares of the company's stock, valued at approximately $2,954,000.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in CAVA Group by 292.1% during the 1st quarter. Principal Financial Group Inc. now owns 362,722 shares of the company's stock worth $31,343,000 after acquiring an additional 270,206 shares during the period. Xcel Wealth Management LLC acquired a new stake in CAVA Group during the 1st quarter worth about $1,889,000. Oregon Public Employees Retirement Fund acquired a new stake in CAVA Group during the 1st quarter worth about $1,434,000. Teacher Retirement System of Texas boosted its position in CAVA Group by 284.2% during the 1st quarter. Teacher Retirement System of Texas now owns 12,530 shares of the company's stock worth $1,083,000 after acquiring an additional 9,269 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Up 5.1%

Shares of CAVA stock opened at $86.94 on Monday. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The firm has a market cap of $10.06 billion, a PE ratio of 72.45, a price-to-earnings-growth ratio of 4.06 and a beta of 2.65. The stock has a 50 day moving average of $84.82 and a 200-day moving average of $97.56.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The company had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen lowered CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Robert W. Baird lifted their price target on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Citigroup lifted their price target on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their price target on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Finally, Barclays reduced their price target on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CAVA Group currently has a consensus rating of "Moderate Buy" and an average target price of $117.82.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 31,856 shares of the company'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 $2,394,296.96. Following the completion of the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at approximately $59,550,620.88. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 4,845 shares of the company'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 $364,150.20. Following the completion of the transaction, the chief financial officer owned 236,345 shares of the company's stock, valued at $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,951 shares of company stock valued at $5,409,027. 12.10% of the stock is owned by corporate insiders.

CAVA Group 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.

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