Jefferies Financial Group Inc. Acquires 7,528 Shares of CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Jefferies Financial Group Inc. increased its stake in CAVA Group by 69.7% in the first quarter, holding a total of 18,323 shares worth approximately $1.58 million.
• Analysts have varied ratings on CAVA Group, with a consensus target price of $115.06 and a mixed outlook that includes one sell rate, six hold ratings, and twelve buy ratings.
• Insider trading activity included significant sales by executive officers, with CEO Brett Schulman and insider Jennifer Somers selling shares totaling around $2.61 million in value.

Jefferies Financial Group Inc. lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 69.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,323 shares of the company's stock after purchasing an additional 7,528 shares during the period. Jefferies Financial Group Inc.'s holdings in CAVA Group were worth $1,583,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CAVA. First Horizon Advisors Inc. grew its holdings in CAVA Group by 1,400.0% in 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 last quarter. Versant Capital Management Inc bought a new stake in CAVA Group in the 1st quarter worth $31,000. NCP Inc. bought a new stake in CAVA Group in the 1st quarter worth $44,000. Whittier Trust Co. of Nevada Inc. grew its holdings in CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in CAVA Group by 148.9% in the 1st quarter. Signaturefd LLC now owns 784 shares of the company's stock worth $68,000 after acquiring an additional 469 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAVA shares. Barclays raised their price target on shares of CAVA Group from $90.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Robert W. Baird lifted their target price on shares of CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Stifel Nicolaus cut their target price on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. KeyCorp initiated coverage on shares of CAVA Group in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $100.00 target price on the stock. Finally, Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.06.

CAVA Group Trading Down 4.2%

Shares of NYSE CAVA opened at $84.34 on Monday. The firm has a 50 day moving average of $82.85 and a 200 day moving average of $93.82. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 70.28, a price-to-earnings-growth ratio of 4.21 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 announced its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.08. The company had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 earnings per share. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of the company'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 value of $215,032.76. Following the completion of the transaction, the insider directly owned 137,048 shares in the company, valued at $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 31,856 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 transaction 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 $59,550,620.88. This trade represents a 3.87% decrease in their position. 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. Insiders own 12.10% of the company's stock.

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.

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