Natixis Advisors LLC Cuts Stake in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Natixis Advisors LLC reduced its stake in **CAVA Group, Inc.** by **25.1%**, selling **4,242 shares** and retaining **12,680 shares** worth approximately **$1,096,000**.
• Insider transactions revealed that **CAO Adam David Phillips** and another insider sold shares, reducing their ownership in the company, with insiders selling a total of **58,603 shares** valued at **$4,522,089** over the last three months.
• CAVA Group's stock price trend shows a **4.3% drop**, with a market cap of **$9.84 billion** and a current **EPS forecast of 0.5** for the year, while analysts maintain a consensus target price of **$119.72** for the stock.

Natixis Advisors LLC trimmed its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 25.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,680 shares of the company's stock after selling 4,242 shares during the period. Natixis Advisors LLC's holdings in CAVA Group were worth $1,096,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CAVA. Wells Fargo & Company MN increased its position in CAVA Group by 11.7% during the fourth quarter. Wells Fargo & Company MN now owns 242,720 shares of the company's stock worth $27,379,000 after acquiring an additional 25,474 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of CAVA Group by 20.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company's stock valued at $1,226,000 after buying an additional 1,874 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of CAVA Group by 279.0% in the fourth quarter. Russell Investments Group Ltd. now owns 64,967 shares of the company's stock valued at $7,328,000 after buying an additional 47,825 shares during the period. Cerity Partners LLC lifted its stake in shares of CAVA Group by 32.9% in the fourth quarter. Cerity Partners LLC now owns 15,299 shares of the company's stock valued at $1,730,000 after buying an additional 3,791 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of CAVA Group by 23.7% in the fourth quarter. Legal & General Group Plc now owns 90,002 shares of the company's stock valued at $10,152,000 after buying an additional 17,254 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Price Performance

Shares of NYSE CAVA traded down $1.50 during mid-day trading on Thursday, reaching $68.95. 12,309,722 shares of the company's stock traded hands, compared to its average volume of 3,854,376. The stock has a market cap of $7.97 billion, a P/E ratio of 57.94, a PEG ratio of 4.22 and a beta of 2.65. The business has a 50-day simple moving average of $83.23 and a 200 day simple moving average of $92.14. CAVA Group, Inc. has a 1-year low of $65.70 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 10.09%. The firm had revenue of $280.62 million during the quarter, compared to analysts' expectations of $285.65 million. During the same period last year, the company earned $0.17 earnings per share. The business's revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider directly owned 125,347 shares in the company, valued at $10,858,810.61. The trade was a 7.55% 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 Jennifer Somers sold 2,861 shares of the business'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 $215,032.76. Following the completion of the sale, the insider directly owned 137,048 shares in the company, valued at approximately $10,300,527.68. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,603 shares of company stock valued at $4,522,089. Corporate insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAVA. Citigroup reduced their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research note on Wednesday. Morgan Stanley reduced their target price on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating for the company in a research note on Wednesday. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research note on Wednesday. TD Securities restated a "buy" rating and set a $120.00 price target on shares of CAVA Group in a research note on Friday, May 16th. Finally, KeyCorp set a $85.00 price target on shares of CAVA Group and gave the stock an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $100.44.

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.