CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Miller Financial Services LLC

Miller Financial Services LLC grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 38.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,090 shares of the company's stock after purchasing an additional 3,623 shares during the period. CAVA Group makes up about 1.6% of Miller Financial Services LLC's holdings, making the stock its 17th biggest position. Miller Financial Services LLC's holdings in CAVA Group were worth $1,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake 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 worth $25,000 after acquiring an additional 266 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of CAVA Group during the 1st quarter worth $31,000. Whittier Trust Co. lifted its stake in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after purchasing an additional 127 shares during the period. Signaturefd LLC lifted its stake in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 283 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of CAVA Group by 192.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company's stock worth $44,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded down $5.55 during trading hours on Thursday, hitting $86.14. The stock had a trading volume of 2,758,794 shares, compared to its average volume of 3,508,562. The stock's fifty day simple moving average is $83.17 and its 200 day simple moving average is $95.42. CAVA Group, Inc. has a 1-year low of $70.00 and a 1-year high of $172.43. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 4.49 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. 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 business earned $0.12 earnings per share. CAVA Group's revenue was up 28.1% compared to the same quarter last year. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley set a $107.00 price target on CAVA Group and gave the company an "equal weight" rating in a report on Monday, July 14th. Melius initiated coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price target on the stock. Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. reduced their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, Bank of America raised their target price on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, CAVA Group has a consensus rating of "Moderate Buy" and a consensus target price of $115.06.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 31,856 shares of the firm'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 transaction of $2,394,296.96. Following the transaction, the chief executive officer owned 792,318 shares in the company, valued at $59,550,620.88. This trade represents a 3.87% 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 firm's 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 owned 125,347 shares in the company, valued at $10,858,810.61. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,951 shares of company stock valued at $5,409,027. 6.80% of the stock is currently owned by company 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.