Van ECK Associates Corp Sells 4,058 Shares of CAVA Group, Inc. (NYSE:CAVA)

Van ECK Associates Corp lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 70.7% during the third quarter, Holdings Channel.com reports. The firm owned 1,684 shares of the company’s stock after selling 4,058 shares during the quarter. Van ECK Associates Corp’s holdings in CAVA Group were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after acquiring an additional 113 shares during the period. GAMMA Investing LLC increased its stake in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Dimensional Fund Advisors LP increased its stake in CAVA Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after acquiring an additional 184 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in CAVA Group by 4.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after acquiring an additional 278 shares during the period. Finally, Jamison Private Wealth Management Inc. bought a new position in CAVA Group during the 2nd quarter worth $28,000. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of recent research reports. Citigroup raised their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Argus raised their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group raised their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus raised their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

CAVA Group Price Performance

Shares of CAVA stock opened at $147.31 on Thursday. The company’s fifty day simple moving average is $130.75 and its two-hundred day simple moving average is $103.50. CAVA Group, Inc. has a 1 year low of $31.41 and a 1 year high of $172.43. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 320.24 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities research analysts anticipate that CAVA Group, Inc. will post 0.44 EPS for the current year.

CAVA Group Profile

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.