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

Victory Capital Management Inc. trimmed its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 64.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,694 shares of the company’s stock after selling 20,823 shares during the quarter. Victory Capital Management Inc.’s holdings in CAVA Group were worth $1,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAVA. Private Advisor Group LLC increased its stake in CAVA Group by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after buying an additional 13,739 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of CAVA Group during the first quarter worth approximately $3,213,000. Swiss National Bank acquired a new position in CAVA Group in the 4th quarter valued at $1,926,000. Stephens Inc. AR purchased a new position in CAVA Group in the 4th quarter valued at $1,014,000. Finally, Cetera Investment Advisers acquired a new stake in CAVA Group during the 1st quarter worth $2,455,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 2.8 %

Shares of NYSE CAVA opened at $128.72 on Friday. CAVA Group, Inc. has a 52-week low of $29.05 and a 52-week high of $129.50. The business’s 50 day moving average is $100.83 and its two-hundred day moving average is $84.98. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 313.95 and a beta of 3.34.

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

Analysts Set New Price Targets

CAVA has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective 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. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Morgan Stanley cut CAVA Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Loop Capital lifted their price target on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Finally, Stifel Nicolaus increased their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.58.

Insiders Place Their Bets

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction 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 transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders have sold a total of 400,943 shares of company stock worth $47,062,986 in the last ninety days.

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.