Armstrong Fleming & Moore Inc Purchases Shares of 380,196 CAVA Group, Inc. (NYSE:CAVA)

Armstrong Fleming & Moore Inc acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 380,196 shares of the company's stock, valued at approximately $16,341,000. CAVA Group accounts for 12.3% of Armstrong Fleming & Moore Inc's investment portfolio, making the stock its 2nd biggest holding. Armstrong Fleming & Moore Inc owned 0.33% of CAVA Group at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CAVA. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the 3rd quarter valued at about $26,000. PNC Financial Services Group Inc. raised its holdings in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company's stock valued at $27,000 after buying an additional 570 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group during the 3rd quarter valued at about $31,000. Hollencrest Capital Management purchased a new stake in shares of CAVA Group during the 3rd quarter valued at about $75,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of CAVA Group during the 4th quarter valued at about $143,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of CAVA traded down $4.56 during mid-day trading on Wednesday, hitting $67.38. The stock had a trading volume of 3,808,935 shares, compared to its average volume of 2,269,059. The company's fifty day simple moving average is $63.17 and its two-hundred day simple moving average is $48.36. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $74.58.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. The company's revenue was up 52.6% on a year-over-year basis. As a group, analysts forecast that CAVA Group, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays started coverage on CAVA Group in a report on Monday, April 15th. They set an "equal weight" rating and a $58.00 target price on the stock. Argus upgraded CAVA Group from a "hold" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Wednesday, April 10th. Citigroup raised their price objective on CAVA Group from $49.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Wedbush raised their price objective on CAVA Group from $65.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird raised their price objective on CAVA Group from $54.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.42.

Insider Activity at CAVA Group

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock worth $221,525,951 in the last 90 days.

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.