Jefferies Financial Group Inc. Lowers Position in CAVA Group, Inc. $CAVA

Jefferies Financial Group Inc. trimmed its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 77.2% in the third quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CAVA. Blair William & Co. IL boosted its stake in CAVA Group by 16.6% during the third quarter. Blair William & Co. IL now owns 35,866 shares of the company’s stock worth $2,167,000 after buying an additional 5,114 shares during the period. Baltimore Washington Financial Advisors Inc. raised its stake in shares of CAVA Group by 35.6% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 3,810 shares of the company’s stock valued at $230,000 after acquiring an additional 1,000 shares during the period. Smith Moore & CO. lifted its holdings in shares of CAVA Group by 8.2% in the 3rd quarter. Smith Moore & CO. now owns 4,703 shares of the company’s stock worth $284,000 after acquiring an additional 356 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of CAVA Group by 15.5% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,468 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,875 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of CAVA Group by 59.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 777,754 shares of the company’s stock worth $46,976,000 after purchasing an additional 288,515 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In other news, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction dated 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 in the company, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 774 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $648,430.90. This represents a 6.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,055 shares of company stock worth $2,572,303 over the last quarter. 6.80% of the stock is currently owned by insiders.

CAVA Group Stock Up 0.7%

NYSE:CAVA opened at $80.60 on Thursday. The company has a fifty day simple moving average of $69.54 and a two-hundred day simple moving average of $62.27. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 149.26, a price-to-earnings-growth ratio of 6.89 and a beta of 2.16. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAVA shares. Johnson Rice set a $72.00 target price on shares of CAVA Group in a report on Monday, January 5th. Truist Financial raised their price target on CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. UBS Group lifted their price objective on CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Telsey Advisory Group boosted their price objective on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, TD Cowen increased their target price on CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note 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, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $84.04.

CAVA Group 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.