Virtu Financial LLC Trims Holdings in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Virtu Financial LLC reduced its holdings in CAVA Group, Inc. by 42.4%, currently owning 14,163 shares valued at $1,224,000 after selling 10,442 shares in Q1.
• Other institutional investors, such as Vanguard Group and Jennison Associates, increased their stakes significantly, with Vanguard boosting its ownership by 13.2% and Jennison by 246.1%.
• Despite the changes in holdings, analysts remain optimistic, with multiple firms raising their price targets for CAVA Group, now averaging a target price of $119.72 and a consensus rating of "Moderate Buy."

Virtu Financial LLC reduced its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 42.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,163 shares of the company's stock after selling 10,442 shares during the quarter. Virtu Financial LLC's holdings in CAVA Group were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of CAVA Group by 17,386.7% in the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock worth $6,377,000 after purchasing an additional 73,372 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CAVA Group by 123.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company's stock worth $472,000 after purchasing an additional 3,015 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of CAVA Group by 768.4% in the first quarter. SG Americas Securities LLC now owns 220,816 shares of the company's stock worth $19,081,000 after purchasing an additional 195,389 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of CAVA Group in the first quarter worth approximately $257,000. Finally, Yousif Capital Management LLC bought a new position in shares of CAVA Group in the first quarter worth approximately $2,429,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAVA. Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Barclays cut their price target on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday. Bank of America cut their price target on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday. KeyCorp set a $85.00 price target on shares of CAVA Group and gave the company an "overweight" rating in a report on Wednesday. Finally, Melius assumed coverage on shares of CAVA Group in a report on Monday, July 14th. They issued a "hold" rating and a $95.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.44.

Insider Activity

In other news, CEO Brett Schulman sold 31,856 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the sale, the chief executive officer owned 792,318 shares of the company's stock, valued at $59,550,620.88. This represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tricia K. Tolivar sold 4,845 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the sale, the chief financial officer directly owned 236,345 shares of the company's stock, valued at $17,763,690.20. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,603 shares of company stock worth $4,522,089. Company insiders own 6.80% of the company's stock.

CAVA Group Trading Up 1.3%

NYSE:CAVA traded up $0.90 during mid-day trading on Friday, reaching $69.83. The company's stock had a trading volume of 3,590,801 shares, compared to its average volume of 3,851,892. CAVA Group, Inc. has a 12-month low of $65.70 and a 12-month high of $172.43. The firm's fifty day moving average price is $83.04 and its two-hundred day moving average price is $91.77. The stock has a market cap of $8.08 billion, a P/E ratio of 58.43, a PEG ratio of 3.58 and a beta of 2.65.

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

CAVA Group Company 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.