PFG Investments LLC Decreases Stock Position in CAVA Group, Inc. $CAVA

Key Points

• PFG Investments LLC sharply reduced its CAVA Group stake by 79.8% in the first quarter, leaving it with 4,683 shares worth about $379,000.
• Insider selling has been notable, including CFO Tricia K. Tolivar and Director Karen Kochevar, with company insiders selling 91,747 shares worth nearly $8.0 million over the last 90 days.
• CAVA reported a strong quarter with EPS of $0.20 and revenue of $438.27 million, both beating expectations, while analysts currently rate the stock Moderate Buy with a consensus price target of $93.44.

PFG Investments LLC cut its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 79.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,683 shares of the company's stock after selling 18,477 shares during the quarter. PFG Investments LLC's holdings in CAVA Group were worth $379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Research Global Investors raised its stake in shares of CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company's stock valued at $495,344,000 after acquiring an additional 1,805,174 shares during the period. Capital International Investors boosted its stake in shares of CAVA Group by 15.5% during the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company's stock worth $286,718,000 after purchasing an additional 656,581 shares during the period. Morgan Stanley boosted its stake in shares of CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company's stock worth $194,786,000 after purchasing an additional 835,628 shares during the period. Alliancebernstein L.P. grew its holdings in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company's stock valued at $178,432,000 after purchasing an additional 1,600,630 shares during the last quarter. Finally, State Street Corp grew its holdings in CAVA Group by 1.3% during the 4th quarter. State Street Corp now owns 2,920,442 shares of the company's stock valued at $171,401,000 after purchasing an additional 36,508 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Tricia K. Tolivar sold 4,969 shares of CAVA Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $444,377.67. Following the completion of the sale, the chief financial officer directly owned 234,931 shares in the company, valued at $21,009,879.33. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director directly owned 3,074 shares of the company's stock, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 91,747 shares of company stock worth $7,970,838. 6.70% of the stock is owned by company insiders.

CAVA Group Stock Performance

CAVA Group stock opened at $67.63 on Thursday. The company has a market capitalization of $7.88 billion, a PE ratio of 130.06, a P/E/G ratio of 4.78 and a beta of 1.69. The company has a 50 day moving average price of $80.56 and a 200-day moving average price of $76.67. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $438.27 million for the quarter, compared to analysts' expectations of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.CAVA Group's revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, analysts forecast that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAVA. UBS Group raised shares of CAVA Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $90.00 in a research note on Wednesday, June 10th. Northcoast Research raised CAVA Group to a "strong sell" rating in a research note on Tuesday, April 21st. The Goldman Sachs Group raised their price target on CAVA Group from $75.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Sanford C. Bernstein restated an "outperform" rating and set a $95.00 price objective on shares of CAVA Group in a report on Wednesday, May 20th. Finally, BMO Capital Markets set a $100.00 price objective on CAVA Group in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.44.

CAVA Group Profile

CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.

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