Traynor Capital Management Inc. Cuts Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Traynor Capital Management Inc. lessened its holdings in CAVA Group, Inc. (NYSE:CAVA) by 14.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,489 shares of the company’s stock after selling 418 shares during the quarter. Traynor Capital Management Inc.’s holdings in CAVA Group were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Jefferies Financial Group increased their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Wedbush raised their target price on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Citigroup upped their price target on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.71.

CAVA Group Price Performance

CAVA opened at $137.96 on Wednesday. CAVA Group, Inc. has a 12 month low of $29.66 and a 12 month high of $141.25. The business has a 50-day moving average of $124.40 and a two-hundred day moving average of $97.29. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 336.49 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. CAVA Group’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Equities research analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

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.