PSI Advisors LLC Reduces Stock Position in CAVA Group, Inc. (NYSE:CAVA)

PSI Advisors LLC lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,323 shares of the company’s stock after selling 130 shares during the period. PSI Advisors LLC’s holdings in CAVA Group were worth $164,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after purchasing an additional 184 shares during the period. Jaffetilchin Investment Partners LLC lifted its position in shares of CAVA Group by 4.2% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after purchasing an additional 278 shares during the period. Jamison Private Wealth Management Inc. purchased a new stake in shares of CAVA Group in the 2nd quarter worth about $28,000. Finally, Nemes Rush Group LLC purchased a new stake in shares of CAVA Group in the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 0.9 %

Shares of NYSE CAVA opened at $137.73 on Thursday. The firm’s 50-day moving average price is $122.07 and its 200-day moving average price is $95.51. The company has a market cap of $15.71 billion, a PE ratio of 333.00 and a beta of 3.33. CAVA Group, Inc. has a 52-week low of $29.66 and a 52-week high of $138.45.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Insider Activity

In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock valued at $38,310,084 in the last 90 days. 12.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several research reports. Wedbush increased their price target on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Loop Capital increased their price target on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Citigroup increased their price target on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, TD Cowen increased their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.93.

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.