Armstrong Fleming & Moore Inc Takes $16.34 Million Position in CAVA Group, Inc. (NYSE:CAVA)

Armstrong Fleming & Moore Inc acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 380,196 shares of the company’s stock, valued at approximately $16,341,000. CAVA Group accounts for 12.3% of Armstrong Fleming & Moore Inc’s investment portfolio, making the stock its 2nd biggest position. Armstrong Fleming & Moore Inc owned about 0.33% of CAVA Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in CAVA Group during the 3rd quarter worth $26,000. PNC Financial Services Group Inc. lifted its position in CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after acquiring an additional 570 shares during the period. Clearstead Advisors LLC acquired a new stake in CAVA Group during the 3rd quarter worth about $31,000. Hollencrest Capital Management acquired a new stake in CAVA Group during the 3rd quarter worth about $75,000. Finally, Amalgamated Bank acquired a new position in shares of CAVA Group in the 3rd quarter valued at about $103,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CAVA shares. Piper Sandler boosted their price objective on CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Barclays assumed coverage on CAVA Group in a report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price target for the company. Wedbush upped their price target on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Down 6.2 %

Shares of CAVA traded down $4.49 during midday trading on Wednesday, reaching $67.45. 3,790,746 shares of the stock were exchanged, compared to its average volume of 2,268,856. CAVA Group, Inc. has a twelve month low of $29.05 and a twelve month high of $74.58. The business’s 50-day moving average price is $62.79 and its 200 day moving average price is $48.23.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. The firm’s revenue was up 52.6% on a year-over-year basis. Analysts anticipate that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the sale, the insider now owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock valued at $221,525,951 in the last ninety days.

CAVA Group 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.