ClariVest Asset Management LLC Sells 3,577 Shares of CAVA Group, Inc. (NYSE:CAVA)

ClariVest Asset Management LLC lessened its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,666 shares of the company’s stock after selling 3,577 shares during the quarter. ClariVest Asset Management LLC’s holdings in CAVA Group were worth $1,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares in the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. 1832 Asset Management L.P. increased its stake in CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of CAVA Group by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after buying an additional 492,667 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of CAVA Group by 21.6% during the fourth quarter. Franklin Resources Inc. now owns 715,325 shares of the company’s stock worth $30,745,000 after buying an additional 127,146 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 66,414 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the transaction, the chief executive officer now owns 904,094 shares in the company, valued at $81,467,910.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CAVA Group news, CEO Brett Schulman sold 66,414 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the transaction, the chief executive officer now directly owns 904,094 shares in the company, valued at $81,467,910.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. The disclosure for this sale can be found here. Insiders sold a total of 493,579 shares of company stock worth $55,510,751 in the last 90 days.

CAVA Group Price Performance

NYSE:CAVA opened at $121.29 on Thursday. The company has a 50 day moving average price of $95.47 and a 200-day moving average price of $81.57. CAVA Group, Inc. has a 1-year low of $29.05 and a 1-year high of $128.18. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 295.83 and a beta of 3.32.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAVA. Citigroup raised their target price on CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Loop Capital raised their price objective on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Morgan Stanley lowered 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 research report on Thursday, August 29th. Piper Sandler downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Finally, Robert W. Baird lifted their price objective on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.58.

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.