Legal & General Group Plc Cuts Stock Holdings in CAVA Group, Inc. $CAVA

Legal & General Group Plc trimmed its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,644 shares of the company’s stock after selling 14,218 shares during the quarter. Legal & General Group Plc’s holdings in CAVA Group were worth $8,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its holdings in shares of CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after buying an additional 356 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of CAVA Group in the 3rd quarter worth about $36,000. Finally, Allworth Financial LP boosted its holdings in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after buying an additional 237 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Up 1.1%

NYSE CAVA opened at $72.14 on Friday. The company has a market cap of $8.40 billion, a PE ratio of 138.74, a price-to-earnings-growth ratio of 4.89 and a beta of 1.70. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The firm’s 50-day simple moving average is $83.31 and its two-hundred day simple moving average is $71.60.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 price target on the stock. BMO Capital Markets set a $100.00 price target on shares of CAVA Group in a report on Wednesday, May 20th. UBS Group boosted their price target on shares of CAVA Group from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Stifel Nicolaus boosted their price target on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings raised shares of CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.19.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 10,010 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70. Following the sale, the insider directly owned 113,850 shares of the company’s stock, valued at $9,093,199.50. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the sale, the chief accounting officer directly owned 9,505 shares in the company, valued at approximately $733,215.70. This trade represents a 35.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,235 shares of company stock valued at $1,920,420 over the last three months. 6.70% of the stock is currently owned by insiders.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.