Raymond James Financial Services Advisors Inc. Purchases 1,591 Shares of CAVA Group, Inc. (NYSE:CAVA)

Raymond James Financial Services Advisors Inc. lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,610 shares of the company’s stock after acquiring an additional 1,591 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in CAVA Group were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of CAVA Group in the 3rd quarter valued at $26,000. PNC Financial Services Group Inc. raised its holdings in CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group during the third quarter valued at about $31,000. Osaic Holdings Inc. bought a new stake in shares of CAVA Group in the 2nd quarter valued at about $74,000. Finally, Hollencrest Capital Management purchased a new position in shares of CAVA Group in the 3rd quarter worth approximately $75,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,547,239 shares of company stock valued at $221,525,951.

CAVA Group Price Performance

Shares of CAVA stock opened at $59.67 on Monday. CAVA Group, Inc. has a 52-week low of $29.05 and a 52-week high of $71.60. The business has a 50-day simple moving average of $61.26 and a 200-day simple moving average of $46.59.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The firm’s revenue was up 52.6% compared to the same quarter last year. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of analyst reports. Robert W. Baird increased their target price on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Barclays started coverage on CAVA Group in a research note on Monday, April 15th. They set an “equal weight” rating and a $58.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Wedbush boosted their price target on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler increased their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $60.42.

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.