Sowell Financial Services LLC Acquires Shares of 7,859 CAVA Group, Inc. (NYSE:CAVA)

Sowell Financial Services LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,859 shares of the company's stock, valued at approximately $679,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in CAVA Group in the fourth quarter valued at approximately $25,000. Allworth Financial LP increased its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. boosted its stake in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 283 shares during the period. Institutional investors own 73.15% of the company's stock.

CAVA Group Stock Up 0.4%

Shares of CAVA stock traded up $0.29 during trading on Friday, hitting $74.74. The company had a trading volume of 4,395,256 shares, compared to its average volume of 3,121,009. The stock's 50-day moving average is $86.38 and its two-hundred day moving average is $101.97. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 62.29, a price-to-earnings-growth ratio of 3.48 and a beta of 2.77. CAVA Group, Inc. has a 52 week low of $70.00 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. On average, research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares of the company's stock, valued at $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider now owns 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock valued at $5,409,027 over the last 90 days. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CAVA shares. Wedbush reiterated an "outperform" rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research note on Thursday, March 20th. Citigroup raised their price objective on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Bank of America upped their target price on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Loop Capital reduced their price target on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $119.88.

About CAVA Group

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.