Xcel Wealth Management LLC Invests $1.89 Million in CAVA Group, Inc. (NYSE:CAVA)

Xcel Wealth Management LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,866 shares of the company's stock, valued at approximately $1,889,000.

Several other large investors have also recently added to or reduced their stakes in CAVA. Proficio Capital Partners LLC acquired a new stake in shares of CAVA Group during the fourth quarter worth $2,697,000. SRS Capital Advisors Inc. lifted its holdings in CAVA Group by 125.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 438 shares of the company's stock worth $49,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in CAVA Group by 377.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,599 shares of the company's stock valued at $406,000 after acquiring an additional 2,845 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of CAVA Group during the fourth quarter valued at approximately $226,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of CAVA Group by 229.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,793 shares of the company's stock worth $202,000 after purchasing an additional 1,248 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer directly owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Somers sold 2,861 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $215,032.76. Following the sale, the insider directly owned 137,048 shares in the company, valued at approximately $10,300,527.68. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,951 shares of company stock valued at $5,409,027. Corporate insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

NYSE CAVA opened at $82.78 on Thursday. The stock has a market capitalization of $9.57 billion, a P/E ratio of 68.98, a P/E/G ratio of 3.86 and a beta of 2.65. The business's fifty day moving average is $84.98 and its two-hundred day moving average is $98.36. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43.

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

Analysts Set New Price Targets

A number of research analysts recently commented on CAVA shares. TD Securities restated a "buy" rating and set a $120.00 price objective on shares of CAVA Group in a research note on Friday, May 16th. Bank of America upped their price target on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Stifel Nicolaus cut their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $117.82.

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.

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