SG Americas Securities LLC Buys 10,061 Shares of CAVA Group, Inc. (NYSE:CAVA)

SG Americas Securities LLC grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 65.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,427 shares of the company’s stock after purchasing an additional 10,061 shares during the quarter. SG Americas Securities LLC’s holdings in CAVA Group were worth $2,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Magnus Financial Group LLC raised its stake in CAVA Group by 13.4% in the fourth quarter. Magnus Financial Group LLC now owns 5,772 shares of the company’s stock worth $651,000 after buying an additional 681 shares in the last quarter. Dakota Wealth Management raised its position in shares of CAVA Group by 4.9% in the 4th quarter. Dakota Wealth Management now owns 27,130 shares of the company’s stock worth $3,060,000 after acquiring an additional 1,260 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of CAVA Group in the 4th quarter valued at approximately $15,498,000. Ameritas Advisory Services LLC bought a new stake in shares of CAVA Group during the fourth quarter valued at approximately $3,985,000. Finally, Howard Financial Services LTD. grew its stake in CAVA Group by 1.8% in the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after purchasing an additional 109 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $124.97 on Friday. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 271.68 and a beta of 3.21. The business has a 50-day simple moving average of $126.05 and a two-hundred day simple moving average of $118.54. CAVA Group, Inc. has a fifty-two week low of $44.80 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the previous year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In related news, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 676,050 shares of company stock valued at $100,043,120 in the last ninety days. 12.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAVA. Citigroup boosted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target on the stock. Finally, Wedbush lifted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.13.

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.