SG Americas Securities LLC Lowers Holdings in CAVA Group, Inc. (NYSE:CAVA)

SG Americas Securities LLC lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 41.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,366 shares of the company’s stock after selling 10,942 shares during the quarter. SG Americas Securities LLC’s holdings in CAVA Group were worth $1,903,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. purchased a new stake in CAVA Group in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC purchased a new stake in CAVA Group in the second quarter valued at approximately $28,000. CWM LLC increased its position in 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. Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group during the second quarter worth approximately $36,000. Finally, Headlands Technologies LLC acquired a new position in shares of CAVA Group in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 304,994 shares of company stock valued at $38,310,084.

CAVA Group Stock Up 4.7 %

NYSE:CAVA opened at $131.97 on Wednesday. CAVA Group, Inc. has a 52 week low of $29.66 and a 52 week high of $133.54. The company has a market cap of $15.05 billion, a PE ratio of 321.88 and a beta of 3.33. The business’s 50 day moving average is $111.51 and its two-hundred day moving average is $90.53.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAVA shares. Stifel Nicolaus boosted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. TD Cowen increased their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays lifted their price target on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Jefferies Financial Group lifted their target price on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Eight 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.64.

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.