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

Nemes Rush Group LLC lessened its position in CAVA Group, Inc. (NYSE:CAVA) by 74.0% during the third quarter, according to the company in 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 quarter. Nemes Rush Group LLC’s holdings in CAVA Group were worth $1,019,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in CAVA Group during the second quarter worth about $463,000. Valeo Financial Advisors LLC bought a new position in CAVA Group in the second quarter valued at approximately $57,824,000. Renaissance Capital LLC grew its stake in CAVA Group by 42.7% in the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock valued at $6,387,000 after purchasing an additional 31,651 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after purchasing an additional 81,393 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of CAVA Group during the 3rd quarter worth approximately $114,098,000. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAVA. Citigroup increased their price objective on CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Morgan Stanley boosted their target price on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Royal Bank Of Canada upped their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Truist Financial increased their price target on shares of CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, TD Cowen lifted their price objective on shares of CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.04.

CAVA Group Stock Down 2.1%

CAVA opened at $80.08 on Wednesday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50. The business has a 50 day moving average of $69.10 and a 200-day moving average of $62.14. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 148.31, a PEG ratio of 7.04 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the transaction, the chief financial officer directly owned 231,934 shares in the company, valued at $14,412,378.76. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Robert Bertram sold 1,074 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the completion of the transaction, the insider directly owned 50,116 shares in the company, valued at $3,378,319.56. The trade was a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 39,055 shares of company stock valued at $2,572,303. 12.10% of the stock is owned by company 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.