Private Advisor Group LLC Sells 28,907 Shares of CAVA Group, Inc. (NYSE:CAVA)

Private Advisor Group LLC trimmed its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 59.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,880 shares of the company’s stock after selling 28,907 shares during the period. Private Advisor Group LLC’s holdings in CAVA Group were worth $854,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. M&T Bank Corp purchased a new position in shares of CAVA Group in the 4th quarter worth $300,000. Swiss National Bank bought a new stake in shares of CAVA Group during the 4th quarter valued at about $1,926,000. Great Valley Advisor Group Inc. purchased a new stake in shares of CAVA Group during the 4th quarter valued at about $284,000. Armstrong Fleming & Moore Inc bought a new position in shares of CAVA Group in the 4th quarter worth approximately $16,341,000. Finally, Victory Capital Management Inc. purchased a new position in shares of CAVA Group in the fourth quarter worth approximately $13,095,000. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Price Performance

CAVA stock opened at $77.33 on Friday. The company’s fifty day moving average price is $67.65 and its 200-day moving average price is $51.79. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $80.33.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The business’s revenue was up 52.6% on a year-over-year basis. As a group, analysts anticipate that CAVA Group, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the sale, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Analyst Ratings Changes

Several research analysts have recently weighed in on CAVA shares. Morgan Stanley lifted their price target on shares of CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. TD Cowen reaffirmed a “buy” rating and set a $63.00 price objective on shares of CAVA Group in a research report on Wednesday, April 10th. Barclays started coverage on shares of CAVA Group in a report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.42.

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.