Liontrust Investment Partners LLP Sells 79,591 Shares of CAVA Group, Inc. $CAVA

Liontrust Investment Partners LLP lowered its holdings in CAVA Group, Inc. (NYSE:CAVA) by 8.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 856,057 shares of the company’s stock after selling 79,591 shares during the period. Liontrust Investment Partners LLP’s holdings in CAVA Group were worth $69,255,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Amundi raised its holdings in shares of CAVA Group by 578.4% during the first quarter. Amundi now owns 290,281 shares of the company’s stock valued at $23,484,000 after acquiring an additional 247,489 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in CAVA Group by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,040 shares of the company’s stock worth $84,000 after acquiring an additional 393 shares during the period. California State Teachers Retirement System boosted its holdings in CAVA Group by 25.2% in the first quarter. California State Teachers Retirement System now owns 110,842 shares of the company’s stock valued at $8,967,000 after acquiring an additional 22,322 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in CAVA Group by 123.0% in the first quarter. Quantinno Capital Management LP now owns 76,126 shares of the company’s stock valued at $6,159,000 after acquiring an additional 41,986 shares in the last quarter. Finally, Blue Chip Partners LLC increased its position in CAVA Group by 46.3% during the 1st quarter. Blue Chip Partners LLC now owns 9,822 shares of the company’s stock valued at $795,000 after purchasing an additional 3,107 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Trading Up 1.7%

CAVA opened at $66.48 on Friday. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 127.85, a price-to-earnings-growth ratio of 4.50 and a beta of 1.69. The stock has a fifty day simple moving average of $75.46 and a two-hundred day simple moving average of $77.19. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. On average, analysts predict that CAVA Group, Inc. will post 0.54 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the sale, the insider owned 98,490 shares in the company, valued at approximately $8,864,100. This represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the sale, the insider owned 327,882 shares in the company, valued at approximately $26,148,589.50. This trade represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 91,747 shares of company stock worth $7,970,838 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Roth Capital reiterated a “buy” rating and set a $106.00 price target on shares of CAVA Group in a research report on Wednesday, May 20th. Stifel Nicolaus increased their price target on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group raised their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.04.

About CAVA Group

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.