Gotham Asset Management LLC Cuts Position in CAVA Group, Inc. (NYSE:CAVA)

Gotham Asset Management LLC trimmed its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 43.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,148 shares of the company's stock after selling 5,493 shares during the period. Gotham Asset Management LLC's holdings in CAVA Group were worth $806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in CAVA Group in the 4th quarter worth $3,985,000. Artemis Investment Management LLP purchased a new stake in CAVA Group in the 4th quarter worth $15,498,000. Dakota Wealth Management increased its stake in CAVA Group by 4.9% in the 4th quarter. Dakota Wealth Management now owns 27,130 shares of the company's stock worth $3,060,000 after buying an additional 1,260 shares in the last quarter. Magnus Financial Group LLC increased its stake in CAVA Group by 13.4% in the 4th quarter. Magnus Financial Group LLC now owns 5,772 shares of the company's stock worth $651,000 after buying an additional 681 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in CAVA Group by 65.5% in the 4th quarter. SG Americas Securities LLC now owns 25,427 shares of the company's stock worth $2,868,000 after buying an additional 10,061 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

NYSE CAVA traded down $0.94 during trading on Friday, hitting $83.42. The stock had a trading volume of 2,854,763 shares, compared to its average volume of 3,212,688. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 181.35 and a beta of 3.28. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The stock has a 50 day simple moving average of $88.90 and a 200 day simple moving average of $110.11.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of analyst reports. TD Securities reiterated a "buy" rating and issued a $120.00 price target on shares of CAVA Group in a research note on Friday, May 16th. Barclays cut their price objective on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. UBS Group cut their price objective on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. William Blair restated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Bank of America raised their price objective on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CAVA Group has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the transaction, the insider now directly owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

About CAVA Group

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.