Wealth Enhancement Advisory Services LLC Trims Position in CAVA Group, Inc. (NYSE:CAVA)

Wealth Enhancement Advisory Services LLC lowered its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,288 shares of the company's stock after selling 6,884 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.05% of CAVA Group worth $5,123,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of CAVA Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock valued at $59,544,000 after acquiring an additional 11,776 shares during the last quarter. GAMMA Investing LLC grew its position in CAVA Group by 17,386.7% during the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock valued at $6,377,000 after buying an additional 73,372 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of CAVA Group in the 4th quarter valued at about $2,697,000. Natixis Advisors LLC increased its position in shares of CAVA Group by 54.1% in the fourth quarter. Natixis Advisors LLC now owns 16,922 shares of the company's stock valued at $1,909,000 after buying an additional 5,940 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of CAVA Group by 46.7% in the fourth quarter. Victory Capital Management Inc. now owns 29,851 shares of the company's stock valued at $3,367,000 after purchasing an additional 9,497 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CAVA Group

In related news, CAO Adam David Phillips sold 739 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the transaction, the chief accounting officer now owns 11,063 shares of the company's stock, valued at approximately $831,495.08. This represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction dated 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 transaction, the insider now directly owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,951 shares of company stock worth $5,409,027. 6.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAVA. Barclays lowered their price objective on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. TD Securities restated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research report on Friday, May 16th. Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Loop Capital decreased their price objective on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Robert W. Baird lifted their target price on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $118.94.

CAVA Group Stock Up 0.5%

NYSE:CAVA traded up $0.37 on Friday, reaching $78.04. The company's stock had a trading volume of 6,875,984 shares, compared to its average volume of 3,172,292. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The stock has a 50 day moving average price of $84.95 and a 200 day moving average price of $99.24. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 131.64, a price-to-earnings-growth ratio of 3.63 and a beta of 2.77.

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

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.