DMC Group LLC Cuts Holdings in CAVA Group, Inc. (NYSE:CAVA)

DMC Group LLC reduced its position in CAVA Group, Inc. (NYSE:CAVA) by 10.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,385 shares of the company’s stock after selling 500 shares during the period. DMC Group LLC’s holdings in CAVA Group were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after acquiring an additional 29,668 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC increased its position in CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after purchasing an additional 19,493 shares during the last quarter. State Street Corp raised its stake in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Trading Up 7.4 %

NYSE CAVA opened at $135.27 on Thursday. The stock has a market cap of $15.50 billion, a PE ratio of 294.06 and a beta of 3.21. CAVA Group, Inc. has a 12 month low of $46.56 and a 12 month high of $172.43. The company’s 50-day moving average price is $125.38 and its 200-day moving average price is $119.44.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAVA. TD Cowen boosted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Citigroup raised their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Loop Capital increased their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.13.

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at $182,980. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 681,784 shares of company stock valued at $100,756,372 over the last quarter. 12.10% of the stock is owned by corporate insiders.

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.