CAVA Group, Inc. (NYSE:CAVA) Shares Bought by Nemes Rush Group LLC

Key Points

• Nemes Rush Group LLC increased its stake in CAVA Group, Inc. by 10.9%, acquiring an additional 5,195 shares, bringing its total ownership to 52,649 shares valued at approximately $4.55 million.
• Insiders have sold 67,951 shares of CAVA stock valued at over $5.4 million in the last quarter, with insiders owning about 6.80% of the company.
• Recent analyst reports have seen price target adjustments for CAVA Group, with JPMorgan Chase & Co. lowering its target from $115 to $95 while maintaining an "overweight" rating on the stock.

Nemes Rush Group LLC increased its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,649 shares of the company's stock after buying an additional 5,195 shares during the period. Nemes Rush Group LLC's holdings in CAVA Group were worth $4,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its position in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $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 first quarter valued at approximately $31,000. NCP Inc. bought a new stake in shares of CAVA Group during the first quarter valued at approximately $44,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of CAVA Group by 37.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after purchasing an additional 144 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of CAVA Group by 148.9% during the first quarter. Signaturefd LLC now owns 784 shares of the company's stock worth $68,000 after purchasing an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the 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 $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares of the company's stock, valued at $17,763,690.20. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kelly Costanza sold 10,243 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the transaction, the insider directly owned 125,347 shares in the company, valued at approximately $10,858,810.61. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,951 shares of company stock valued at $5,409,027. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAVA. Bank of America upped their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Morgan Stanley set a $107.00 price target on CAVA Group and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Wall Street Zen downgraded shares of CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. UBS Group decreased their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Robert W. Baird lifted their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.06.

CAVA Group Trading Down 1.5%

Shares of CAVA Group stock traded down $1.34 on Thursday, reaching $88.98. 1,917,384 shares of the stock were exchanged, compared to its average volume of 3,500,072. The business has a fifty day moving average price of $82.75 and a two-hundred day moving average price of $94.48. 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 $10.29 billion, a PE ratio of 74.25, a PEG ratio of 4.27 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 earnings per share (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 the consensus estimate of $327.98 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company's revenue for the quarter was up 28.1% compared to the same quarter last year. Research analysts expect that CAVA Group, Inc. will post 0.5 EPS 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.