Armstrong Advisory Group Inc. Has $31,000 Holdings in CAVA Group, Inc. (NYSE:CAVA)

Armstrong Advisory Group Inc. cut its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 39.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250 shares of the company’s stock after selling 160 shares during the period. Armstrong Advisory Group Inc.’s holdings in CAVA Group were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAVA. Capital Research Global Investors lifted its position in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Vanguard Group Inc. lifted its holdings in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after buying an additional 492,667 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after buying an additional 93,635 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after acquiring an additional 451,800 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAVA shares. Robert W. Baird raised their price target on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $90.00 to $110.00 in a report on Thursday, August 29th. TD Cowen raised their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Barclays upped their target price on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Eight equities 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 currently has a consensus rating of “Moderate Buy” and an average target price of $115.64.

CAVA Group Stock Performance

NYSE CAVA opened at $134.67 on Tuesday. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 324.27 and a beta of 3.33. The business has a 50 day simple moving average of $114.42 and a 200 day simple moving average of $91.87. CAVA Group, Inc. has a 52-week low of $29.66 and a 52-week high of $135.57.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. On average, analysts predict that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Activity

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the sale, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock worth $38,310,084 over the last three months. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Company 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.