Aviance Capital Partners LLC Increases Holdings in CAVA Group, Inc. (NYSE:CAVA)

Aviance Capital Partners LLC increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,000 shares of the company’s stock after purchasing an additional 6,000 shares during the period. Aviance Capital Partners LLC’s holdings in CAVA Group were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CAVA. Montag A & Associates Inc. purchased a new position in CAVA Group in the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the last quarter. CWM LLC lifted its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of CAVA Group by 197.6% during the first quarter. Toth Financial Advisory Corp now owns 1,506 shares of the company’s stock worth $105,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Glassman Wealth Services lifted its position in shares of CAVA Group by 314.6% during the fourth quarter. Glassman Wealth Services now owns 2,761 shares of the company’s stock worth $119,000 after purchasing an additional 2,095 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $0.09 during trading hours on Monday, hitting $92.84. The stock had a trading volume of 464,642 shares, compared to its average volume of 2,609,058. The stock’s fifty day simple moving average is $81.72 and its 200 day simple moving average is $63.58. CAVA Group, Inc. has a 1-year low of $29.05 and a 1-year high of $97.64. The firm has a market capitalization of $10.59 billion and a price-to-earnings ratio of 226.23.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.04 by $0.08. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The company had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. The business’s revenue was up 27.5% compared to the same quarter last year. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

CAVA has been the topic of several research analyst reports. Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Wednesday, April 10th. Jefferies Financial Group increased their price target on shares of CAVA Group from $72.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Stifel Nicolaus increased their price target on shares of CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Barclays increased their price target on shares of CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lowered shares of CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price objective on the stock. in a research note on Monday, June 3rd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 66,414 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the sale, the chief executive officer now owns 904,094 shares of the company’s stock, valued at $81,467,910.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ronald M. Shaich sold 1,231,979 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $436,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Schulman sold 66,414 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $90.11, for a total value of $5,984,565.54. Following the sale, the chief executive officer now directly owns 904,094 shares in the company, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,414,615 shares of company stock worth $124,128,832.

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.