CAVA Group, Inc. (NYSE:CAVA) Shares Sold by First National Bank of Hutchinson

First National Bank of Hutchinson cut its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 47.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,637 shares of the company’s stock after selling 8,810 shares during the period. CAVA Group accounts for approximately 0.8% of First National Bank of Hutchinson’s investment portfolio, making the stock its 28th biggest holding. First National Bank of Hutchinson’s holdings in CAVA Group were worth $1,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. acquired a new stake in CAVA Group in the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group during the second quarter worth $36,000. Headlands Technologies LLC acquired a new position in shares of CAVA Group in the 2nd quarter valued at $37,000. Finally, GAMMA Investing LLC raised its stake in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wedbush increased their price objective on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Argus lifted their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. TD Cowen increased their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.93.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last 90 days. Insiders own 12.10% of the company’s stock.

CAVA Group Trading Up 0.2 %

Shares of CAVA stock opened at $136.53 on Thursday. CAVA Group, Inc. has a 12-month low of $29.66 and a 12-month high of $138.12. The business’s 50 day moving average is $122.07 and its two-hundred day moving average is $95.51. The company has a market capitalization of $15.57 billion, a P/E ratio of 333.00 and a beta of 3.33.

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