CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,674 shares of the company’s stock after selling 1,089 shares during the period. Synovus Financial Corp’s holdings in CAVA Group were worth $1,074,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Nemes Rush Group LLC purchased a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group in the second quarter valued at $36,000. Headlands Technologies LLC acquired a new position in CAVA Group in the 2nd quarter valued at about $37,000. GAMMA Investing LLC lifted its position in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of CAVA Group in the third quarter valued at approximately $50,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 over the last three months. 12.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAVA shares. Argus raised their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. TD Securities lifted their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Piper Sandler upped their price target on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price target 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, Morgan Stanley boosted their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $126.80 on Tuesday. CAVA Group, Inc. has a one year low of $39.05 and a one year high of $172.43. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 275.65 and a beta of 2.93. The company has a 50-day simple moving average of $137.67 and a 200-day simple moving average of $113.38.

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

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.