Stifel Financial Corp Acquires 4,214 Shares of CAVA Group, Inc. (NYSE:CAVA)

Stifel Financial Corp raised its holdings in CAVA Group, Inc. (NYSE:CAVA) by 7.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 57,395 shares of the company’s stock after buying an additional 4,214 shares during the quarter. Stifel Financial Corp’s holdings in CAVA Group were worth $7,108,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC purchased a new position in CAVA Group during the first quarter valued at $301,000. Wealth Enhancement Advisory Services LLC boosted its stake in CAVA Group by 130.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 72,787 shares of the company’s stock valued at $6,751,000 after buying an additional 41,154 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in CAVA Group by 4.7% during the second quarter. Miracle Mile Advisors LLC now owns 7,927 shares of the company’s stock valued at $735,000 after buying an additional 353 shares during the last quarter. Brookstone Capital Management purchased a new stake in CAVA Group during the second quarter valued at approximately $856,000. Finally, Raymond James & Associates raised its holdings in shares of CAVA Group by 120.1% in the second quarter. Raymond James & Associates now owns 170,791 shares of the company’s stock worth $15,841,000 after buying an additional 93,177 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction 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 owns 1,307 shares in the company, valued at $185,894.61. The trade was a 91.99 % decrease in their position. 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 in the last ninety days. 12.10% of the stock is owned by insiders.

CAVA Group Stock Down 1.1 %

NYSE:CAVA opened at $123.99 on Friday. CAVA Group, Inc. has a 12 month low of $39.05 and a 12 month high of $172.43. The company’s 50 day moving average is $137.67 and its 200-day moving average is $112.99. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 269.54 and a beta of 2.93.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CAVA shares. Argus increased their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wedbush lifted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. TD Securities raised their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, UBS Group assumed coverage on CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

About CAVA Group

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.