Nemes Rush Group LLC Sells 48,077 Shares of CAVA Group, Inc. $CAVA

Nemes Rush Group LLC decreased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 74.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,865 shares of the company’s stock after selling 48,077 shares during the period. Nemes Rush Group LLC’s holdings in CAVA Group were worth $1,019,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position 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 purchasing an additional 356 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in CAVA Group in the second quarter valued at about $31,000. Toth Financial Advisory Corp lifted its stake in CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares during the period. Western Pacific Wealth Management LP bought a new position in CAVA Group during the third quarter worth about $33,000. Finally, CNB Bank boosted its holdings in CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock worth $35,000 after buying an additional 422 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CAVA shares. Argus reiterated a “hold” rating on shares of CAVA Group in a research report on Friday, February 27th. Piper Sandler upped their target price on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. TD Cowen increased their target price on shares of CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Mizuho lifted their price target on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.04.

Insider Activity at CAVA Group

In related news, CAO Adam David Phillips sold 774 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the sale, the chief accounting officer directly owned 10,435 shares in the company, valued at $648,430.90. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kenneth Robert Bertram sold 994 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $61,767.16. Following the completion of the sale, the insider directly owned 49,122 shares in the company, valued at $3,052,441.08. This represents a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 39,055 shares of company stock valued at $2,572,303 over the last three months. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA opened at $80.08 on Wednesday. The stock has a 50 day simple moving average of $69.10 and a 200 day simple moving average of $62.14. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $101.50. The firm has a market capitalization of $9.32 billion, a PE ratio of 148.31, a P/E/G ratio of 7.04 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The firm had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. During the same period last year, the company posted $0.05 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

About CAVA Group

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.