Seven Grand Managers LLC Cuts Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Seven Grand Managers LLC reduced its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 30.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after selling 11,150 shares during the quarter. CAVA Group comprises 1.0% of Seven Grand Managers LLC's portfolio, making the stock its 28th biggest position. Seven Grand Managers LLC's holdings in CAVA Group were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company's stock valued at $27,000 after acquiring an additional 570 shares during the period. Montag A & Associates Inc. bought a new stake in CAVA Group during the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in CAVA Group during the 3rd quarter worth approximately $26,000. Clearstead Advisors LLC bought a new position in CAVA Group in the third quarter valued at approximately $31,000. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CAVA Group by 22.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,610 shares of the company's stock valued at $370,000 after buying an additional 1,591 shares during the period. 73.15% of the stock is owned by institutional investors.

Insider Buying and Selling at CAVA Group

In related news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares of the company's stock, valued at approximately $1,756,154,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the sale, the director now directly owns 26,507,990 shares of the company's stock, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock valued at $221,525,951 in the last quarter.

CAVA Group Stock Up 4.9 %

Shares of CAVA Group stock traded up $3.69 during trading on Friday, hitting $79.07. 2,775,232 shares of the stock were exchanged, compared to its average volume of 2,198,426. The company has a fifty day moving average price of $65.88 and a 200-day moving average price of $50.45. CAVA Group, Inc. has a 1-year low of $29.05 and a 1-year high of $80.33.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on CAVA. Robert W. Baird boosted their price objective on shares of CAVA Group from $54.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Wedbush lifted their target price on CAVA Group from $65.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, April 16th. TD Cowen reaffirmed a "buy" rating and set a $63.00 price target on shares of CAVA Group in a research report on Wednesday, April 10th. Piper Sandler lifted their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, February 28th. Finally, Morgan Stanley increased their target price on shares of CAVA Group from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $60.42.

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.