Lazard Asset Management LLC Sells 4,353 Shares of CAVA Group, Inc. (NYSE:CAVA)

Lazard Asset Management LLC trimmed its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 70.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,832 shares of the company's stock after selling 4,353 shares during the quarter. Lazard Asset Management LLC's holdings in CAVA Group were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Utah Retirement Systems raised its position in shares of CAVA Group by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after acquiring an additional 100 shares during the last quarter. Whittier Trust Co. raised its position in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after acquiring an additional 127 shares during the last quarter. Mainstream Capital Management LLC raised its position in shares of CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after acquiring an additional 132 shares during the last quarter. Centurion Wealth Management LLC raised its position in shares of CAVA Group by 8.8% during the fourth quarter. Centurion Wealth Management LLC now owns 1,913 shares of the company's stock worth $216,000 after acquiring an additional 154 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of CAVA Group by 7.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after acquiring an additional 159 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CAVA. Wedbush reaffirmed an "outperform" rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Citigroup raised their target price on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. TD Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Finally, UBS Group decreased their target price on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.

Insider Activity

In related news, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now directly owns 353,271 shares in the company, 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 on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the sale, the insider now owns 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 disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

CAVA Group Price Performance

Shares of CAVA stock traded up $0.40 during trading hours on Thursday, reaching $82.31. The company had a trading volume of 834,234 shares, compared to its average volume of 3,313,199. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The business has a fifty day simple moving average of $88.86 and a 200-day simple moving average of $109.06. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 178.80 and a beta of 3.28.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same quarter last year, the company earned $0.12 earnings per share. The company's revenue for the quarter was up 28.1% on a year-over-year basis. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.