Liontrust Investment Partners LLP Sells 79,591 Shares of CAVA Group, Inc. $CAVA

Liontrust Investment Partners LLP cut its position in CAVA Group, Inc. (NYSE:CAVA) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,057 shares of the company’s stock after selling 79,591 shares during the quarter. Liontrust Investment Partners LLP owned about 0.74% of CAVA Group worth $69,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of CAVA Group during the 4th quarter valued at $25,000. TD Private Client Wealth LLC raised its position in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of CAVA Group by 115.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after buying an additional 347 shares in the last quarter. Allworth Financial LP boosted its stake in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after buying an additional 237 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in CAVA Group during the first quarter valued at $54,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Up 1.7%

Shares of CAVA stock opened at $66.48 on Friday. The business has a 50-day moving average price of $75.46 and a two-hundred day moving average price of $77.19. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The firm has a market cap of $7.74 billion, a P/E ratio of 127.85, a price-to-earnings-growth ratio of 4.50 and a beta of 1.69.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. As a group, research analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen restated a “buy” rating and issued a $100.00 target price on shares of CAVA Group in a research note on Thursday, June 4th. Argus set a $92.00 price objective on CAVA Group in a report on Friday, May 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. Citigroup restated a “buy” rating on shares of CAVA Group in a research report on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $93.04.

Insider Activity

In other CAVA Group news, Director Karen Kochevar sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director owned 3,074 shares of the company’s stock, valued at $276,660. This trade represents a 76.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 33,174 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the transaction, the chief executive officer owned 798,669 shares in the company, valued at $71,424,968.67. The trade was a 3.99% decrease in their position. 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 three months, insiders sold 91,747 shares of company stock valued at $7,970,838. Insiders own 6.70% of the company’s stock.

About CAVA Group

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.