CAVA Group, Inc. (NYSE:CAVA) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 15.3% during the third quarter, Holdings Channel.com reports. The firm owned 81,511 shares of the company’s stock after selling 14,773 shares during the period. MAI Capital Management’s holdings in CAVA Group were worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. purchased a new stake in CAVA Group during the second quarter worth $28,000. Nemes Rush Group LLC purchased a new stake in shares of CAVA Group during the 2nd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group during the 2nd quarter valued at about $36,000. Headlands Technologies LLC purchased a new position in shares of CAVA Group in the 2nd quarter valued at about $37,000. Finally, GAMMA Investing LLC boosted its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $137.23 on Tuesday. The business’s 50 day moving average price is $131.69 and its 200 day moving average price is $104.72. The company has a market cap of $15.72 billion, a price-to-earnings ratio of 295.33 and a beta of 3.23. CAVA Group, Inc. has a one year low of $31.47 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period last year, the business earned $0.06 earnings per share. CAVA Group’s revenue was up 38.9% compared to the same quarter last year. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wedbush increased their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group boosted their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.71.

Insider Buying and Selling at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 over the last quarter. 12.10% of the stock is currently owned by company insiders.

About CAVA Group

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.