Aviance Capital Partners LLC Purchases New Position in CAVA Group, Inc. (NYSE:CAVA)

Aviance Capital Partners LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,000 shares of the company’s stock, valued at approximately $1,504,000.

Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC increased its position in CAVA Group by 157.2% during the third quarter. Commonwealth Equity Services LLC now owns 21,267 shares of the company’s stock worth $651,000 after buying an additional 12,999 shares during the period. Raymond James & Associates acquired a new position in shares of CAVA Group in the 3rd quarter valued at $1,280,000. Raymond James Financial Services Advisors Inc. purchased a new stake in CAVA Group in the 3rd quarter valued at $215,000. Bank of New York Mellon Corp acquired a new stake in CAVA Group during the 3rd quarter worth $952,000. Finally, TD Asset Management Inc purchased a new position in CAVA Group during the 3rd quarter worth $1,818,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, 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. Over the last 90 days, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

CAVA Group Stock Up 3.0 %

CAVA Group stock traded up $2.13 during trading on Monday, reaching $74.30. 3,114,482 shares of the company’s stock were exchanged, compared to its average volume of 2,271,108. The company’s 50-day moving average is $64.43 and its two-hundred day moving average is $49.25. CAVA Group, Inc. has a 52-week low of $29.05 and a 52-week high of $77.14.

CAVA Group (NYSE:CAVA) last released 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 during the quarter, compared to analysts’ expectations of $240.03 million. The business’s quarterly revenue was up 52.6% on a year-over-year basis. Equities research analysts forecast that CAVA Group, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Cowen reissued a “buy” rating and issued a $63.00 price objective on shares of CAVA Group in a research note on Wednesday, April 10th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Citigroup increased their price objective on shares of CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Robert W. Baird lifted their target price on shares of CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, Barclays began coverage on shares of CAVA Group in a research report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from 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.