Sei Investments Co. Has $20.13 Million Stake in CAVA Group, Inc. $CAVA

Sei Investments Co. raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 228.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,848 shares of the company's stock after buying an additional 173,034 shares during the quarter. Sei Investments Co. owned about 0.21% of CAVA Group worth $20,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CAVA. Los Angeles Capital Management LLC bought a new position in CAVA Group during the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC increased its stake in CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock valued at $35,000 after purchasing an additional 325 shares in the last quarter. Allworth Financial LP increased its stake in CAVA Group by 57.4% in the fourth quarter. Allworth Financial LP now owns 650 shares of the company's stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in CAVA Group by 115.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company's stock worth $38,000 after purchasing an additional 347 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in CAVA Group by 53.5% in the fourth quarter. Advisors Asset Management Inc. now owns 694 shares of the company's stock worth $41,000 after purchasing an additional 242 shares during the period. 73.15% of the stock is owned by institutional investors.

Insider Activity at CAVA Group

In other news, CAO Adam David Phillips sold 5,181 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer owned 9,505 shares in the company, valued at $733,215.70. This trade represents a 35.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Theodoros Xenohristos sold 9,044 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the sale, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 91,747 shares of company stock worth $7,970,838. Corporate insiders own 6.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAVA. Roth Capital reissued a "buy" rating and issued a $106.00 price target on shares of CAVA Group in a report on Wednesday, May 20th. UBS Group raised 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. Piper Sandler boosted their target price on CAVA Group from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. Freedom Capital upgraded CAVA Group to a "hold" rating in a report on Wednesday, July 1st. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $95.00 price target on shares of CAVA Group in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.04.

CAVA Group Stock Up 0.6%

NYSE CAVA opened at $65.40 on Thursday. The firm's 50 day moving average is $75.76 and its 200-day moving average is $77.22. The company has a market capitalization of $7.62 billion, a PE ratio of 125.77, a price-to-earnings-growth ratio of 4.47 and a beta of 1.69. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million during the quarter, compared to analysts' expectations of $360.89 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm's revenue was up 32.1% on a year-over-year basis. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current year.

CAVA Group Company 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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