Leonteq Securities AG Sells 10,682 Shares of CAVA Group, Inc. $CAVA

Leonteq Securities AG cut its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 73.1% during the first quarter, HoldingsChannel.com reports. The firm owned 3,937 shares of the company’s stock after selling 10,682 shares during the quarter. Leonteq Securities AG’s holdings in CAVA Group were worth $319,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of CAVA Group during the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC grew its holdings in CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. TD Private Client Wealth LLC grew its holdings in CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of CAVA Group during the 3rd quarter valued at $36,000. Finally, Allworth Financial LP raised its position in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after acquiring an additional 237 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research set a $95.00 price target on CAVA Group in a research report on Tuesday, June 30th. Citigroup upped their price objective on CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Telsey Advisory Group increased their target price on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Northcoast Research upgraded CAVA Group to a “strong sell” rating in a report on Tuesday, April 21st. Finally, UBS Group upgraded CAVA Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $90.00 in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $93.44.

Insider Transactions at CAVA Group

In other news, insider Kelly Costanza sold 12,490 shares of CAVA Group stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the transaction, the insider owned 98,490 shares in the company, valued at $8,864,100. The trade was a 11.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brett Schulman sold 33,174 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $2,966,750.82. Following the completion of the transaction, the chief executive officer owned 798,669 shares of the company’s stock, valued at $71,424,968.67. This represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 91,747 shares of company stock valued at $7,970,838. Insiders own 6.70% of the company’s stock.

CAVA Group Stock Down 0.2%

Shares of CAVA stock opened at $76.74 on Monday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 147.57, a price-to-earnings-growth ratio of 5.27 and a beta of 1.69. The firm has a fifty day moving average of $82.04 and a 200-day moving average of $76.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Research analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

CAVA Group Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.