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

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

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in shares of CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after buying an additional 266 shares in the last quarter. Larson Financial Group LLC boosted its stake in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc purchased a new stake in CAVA Group in the first quarter worth about $31,000. Whittier Trust Co. increased its stake in shares of 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 lifted 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 valued at $36,000 after purchasing an additional 283 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of recent research reports. UBS Group cut their target price on CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Citigroup increased their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. TD Securities restated a "buy" rating and set a $120.00 price objective on shares of CAVA Group in a research note on Friday, May 16th. Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Robert W. Baird boosted their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.82.

Insider Buying and Selling

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the sale, the insider directly owned 137,048 shares of the company's stock, valued at $10,300,527.68. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the transaction, the insider directly owned 125,347 shares of the company's stock, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock worth $5,409,027 in the last three months. Corporate insiders own 6.80% of the company's stock.

CAVA Group Price Performance

Shares of CAVA traded down $2.12 on Monday, reaching $84.40. The company's stock had a trading volume of 4,399,588 shares, compared to its average volume of 3,231,956. The stock has a market capitalization of $9.76 billion, a P/E ratio of 70.33, a PEG ratio of 4.06 and a beta of 2.65. The stock's 50 day simple moving average is $84.82 and its two-hundred day simple moving average is $97.56. 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 released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The company's quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.