Trexquant Investment LP Sells 47,610 Shares of CAVA Group, Inc. $CAVA

Key Points

• Trexquant Investment LP sold 47,610 shares of CAVA Group, reducing its stake by 21.1%, and now holds approximately 178,152 shares valued at $15.39 million.
• Insider sales included CFO Tricia K. Tolivar and CEO Brett Schulman, who sold 4,845 and 31,856 shares respectively, representing reductions in ownership of 2.01% and 3.87%.
• CAVA Group's stock has a market cap of $7.92 billion and analysts currently have an average rating of "Moderate Buy" with a consensus price target of $99.47.

Trexquant Investment LP cut its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 21.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 178,152 shares of the company's stock after selling 47,610 shares during the period. Trexquant Investment LP owned 0.15% of CAVA Group worth $15,394,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Jennison Associates LLC raised its position in shares of CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after acquiring an additional 6,057,727 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after purchasing an additional 1,277,912 shares during the period. Vanguard Group Inc. increased its position in shares of CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock valued at $783,374,000 after acquiring an additional 1,054,180 shares during the last quarter. Nuveen LLC bought a new stake in CAVA Group in the first quarter valued at approximately $72,800,000. Finally, Man Group plc increased its stake in shares of CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock worth $105,476,000 after purchasing an additional 794,187 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 31,856 shares of CAVA Group stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the transaction, the chief executive officer owned 792,318 shares of the company's stock, valued at $59,550,620.88. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $55,543.24. Following the sale, the chief accounting officer directly owned 11,063 shares of the company's stock, valued at $831,495.08. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,360 shares of company stock worth $3,634,738. 12.10% of the stock is owned by company insiders.

CAVA Group Stock Performance

NYSE CAVA traded down $1.99 during trading hours on Tuesday, reaching $65.56. The company's stock had a trading volume of 2,564,193 shares, compared to its average volume of 3,834,533. CAVA Group, Inc. has a fifty-two week low of $65.03 and a fifty-two week high of $172.43. The stock has a market cap of $7.60 billion, a PE ratio of 55.18, a PEG ratio of 3.38 and a beta of 2.62. The company's 50-day moving average is $81.10 and its two-hundred day moving average is $85.46.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The business had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. During the same period last year, the company earned $0.17 earnings per share. The company's quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAVA shares. TD Cowen lowered their price objective on CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Melius started coverage on shares of CAVA Group in a research note on Monday, July 14th. They set a "hold" rating and a $95.00 price objective for the company. Citigroup dropped their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Stifel Nicolaus reduced their target price on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Finally, Piper Sandler decreased their price target on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.47.

CAVA Group 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.