Steward Partners Investment Advisory LLC Has $11.01 Million Stake in CAVA Group, Inc. $CAVA

Key Points

• Steward Partners Investment Advisory LLC significantly increased its holdings in CAVA Group by 7,003.9% during the first quarter, now owning 127,373 shares valued at approximately $11 million.
• CAVA Group's CEO and CFO sold shares in recent transactions, with the CEO selling 31,856 shares for over $2.39 million, indicating a 3.87% decrease in their position.
• Despite reporting a 20.2% revenue increase in the last quarter, CAVA Group's stock faced a decline, leading analysts to adjust target prices downward, with a consensus target around $100.44.

Steward Partners Investment Advisory LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 7,003.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,373 shares of the company's stock after buying an additional 125,580 shares during the period. Steward Partners Investment Advisory LLC owned about 0.11% of CAVA Group worth $11,006,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its position in shares of CAVA Group by 1.8% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 30,427 shares of the company's stock valued at $2,629,000 after acquiring an additional 530 shares in the last quarter. American Century Companies Inc. lifted its position in shares of CAVA Group by 166.0% in the 1st quarter. American Century Companies Inc. now owns 213,463 shares of the company's stock valued at $18,445,000 after acquiring an additional 133,222 shares in the last quarter. Ethic Inc. increased its stake in CAVA Group by 50.9% in the 1st quarter. Ethic Inc. now owns 7,782 shares of the company's stock valued at $679,000 after buying an additional 2,624 shares during the period. Horizon Investments LLC acquired a new position in CAVA Group in the 1st quarter valued at approximately $42,000. Finally, Kovitz Investment Group Partners LLC increased its stake in CAVA Group by 104.1% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 4,969 shares of the company's stock valued at $429,000 after buying an additional 2,534 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAVA has been the topic of several research reports. Bank of America dropped their price objective on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Citigroup decreased 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 report on Wednesday, August 13th. Robert W. Baird set a $95.00 target price on shares of CAVA Group in a research report on Wednesday, August 13th. Melius started coverage on shares of CAVA Group in a research report on Monday, July 14th. They issued a "hold" rating and a $95.00 target price for the company. Finally, UBS Group decreased their target price on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and an average target price of $99.47.

Insider Activity at CAVA Group

In other news, insider Theodoros Xenohristos sold 3,062 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the completion of the sale, the insider directly owned 350,209 shares in the company, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kelly Costanza sold 2,799 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $210,372.84. Following the completion of the sale, the insider owned 122,548 shares of the company's stock, valued at approximately $9,210,707.68. This trade represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,360 shares of company stock valued at $3,634,738. Insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

Shares of CAVA Group stock traded up $1.0510 on Friday, reaching $68.3810. The stock had a trading volume of 3,322,547 shares, compared to its average volume of 6,136,702. The business's 50-day moving average price is $81.98 and its two-hundred day moving average price is $88.99. CAVA Group, Inc. has a fifty-two week low of $65.70 and a fifty-two week high of $172.43. The stock has a market cap of $7.93 billion, a P/E ratio of 57.46, a price-to-earnings-growth ratio of 3.37 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. CAVA Group's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.