Dakota Wealth Management Lowers Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Dakota Wealth Management cut its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,952 shares of the company’s stock after selling 3,171 shares during the period. Dakota Wealth Management’s holdings in CAVA Group were worth $3,891,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CAVA. Private Advisor Group LLC lifted its holdings in shares of CAVA Group by 69.1% during the first quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after purchasing an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of CAVA Group during the first quarter worth $3,213,000. Swiss National Bank acquired a new stake in shares of CAVA Group during the fourth quarter worth $1,926,000. Stephens Inc. AR acquired a new stake in shares of CAVA Group during the fourth quarter worth $1,014,000. Finally, Cetera Investment Advisers acquired a new stake in shares of CAVA Group during the first quarter worth $2,455,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA Group stock traded down $2.75 during midday trading on Tuesday, reaching $97.45. 825,030 shares of the company were exchanged, compared to its average volume of 2,551,984. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 244.24 and a beta of 3.27. The firm’s 50-day simple moving average is $88.63 and its 200-day simple moving average is $74.60. CAVA Group, Inc. has a 1 year low of $29.05 and a 1 year high of $101.20.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $259.01 million during the quarter, compared to analysts’ expectations of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts forecast that CAVA Group, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

CAVA has been the subject of several recent research reports. Citigroup increased their price target on CAVA Group from $60.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Morgan Stanley raised their target price on CAVA Group from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. downgraded CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 target price for the company. in a report on Monday, June 3rd. Wedbush reissued an “outperform” rating and issued a $100.00 target price on shares of CAVA Group in a report on Tuesday, July 30th. Finally, Stifel Nicolaus raised their target price on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $84.42.

Insider Buying and Selling

In related news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $436,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $436,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Robert Bertram sold 5,250 shares of CAVA Group stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the sale, the insider now owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,420,564 shares of company stock worth $124,690,835.

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.