CAVA Group, Inc. $CAVA Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 77.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,549 shares of the company’s stock after selling 93,260 shares during the period. Jefferies Financial Group Inc.’s holdings in CAVA Group were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after acquiring an additional 356 shares during the period. Atlantic Union Bankshares Corp purchased a new position in CAVA Group during the second quarter valued at $31,000. Toth Financial Advisory Corp grew its position in shares of 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 purchasing an additional 440 shares during the period. Western Pacific Wealth Management LP acquired a new stake in shares of CAVA Group in the third quarter valued at about $33,000. Finally, CNB Bank increased its stake in shares of CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock worth $35,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Adam David Phillips sold 774 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $48,096.36. Following the transaction, the chief accounting officer directly owned 10,435 shares in the company, valued at approximately $648,430.90. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $64,563.46. Following the completion of the transaction, the insider owned 332,205 shares of the company’s stock, valued at $20,643,218.70. The trade was a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is currently owned by company insiders.

CAVA Group Trading Up 0.7%

Shares of CAVA stock opened at $80.60 on Thursday. The company’s 50-day moving average price is $69.54 and its 200-day moving average price is $62.27. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 149.26, a PEG ratio of 6.89 and a beta of 2.16. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $101.50.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (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 during the quarter, compared to analysts’ expectations of $268.04 million. During the same period last year, the business earned $0.05 earnings per share. CAVA Group’s revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Argus reissued a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Benchmark upgraded CAVA Group to a “strong-buy” rating in a research report on Thursday, February 5th. Truist Financial lifted their price target on CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Mizuho boosted their price target on CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. 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, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.04.

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.