Integrated Wealth Concepts LLC Boosts Position in CAVA Group, Inc. (NYSE:CAVA)

Integrated Wealth Concepts LLC boosted its position in CAVA Group, Inc. (NYSE:CAVA) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,390 shares of the company’s stock after purchasing an additional 585 shares during the period. Integrated Wealth Concepts LLC’s holdings in CAVA Group were worth $791,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nemes Rush Group LLC bought a new position in CAVA Group in the second quarter worth approximately $28,000. GAMMA Investing LLC lifted its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in CAVA Group during the second quarter valued at about $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group in the second quarter worth about $37,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of CAVA Group in the second quarter worth about $46,000. 73.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Loop Capital boosted their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Barclays increased their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Citigroup raised their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wedbush upped their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group raised their price target on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $132.90 on Tuesday. CAVA Group, Inc. has a 1-year low of $31.47 and a 1-year high of $172.43. The business’s 50 day moving average is $137.52 and its two-hundred day moving average is $112.20. The stock has a market capitalization of $15.23 billion, a P/E ratio of 288.91 and a beta of 2.94.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company’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 posted $0.06 EPS. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now directly owns 1,307 shares in the company, valued at approximately $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.10% of the company’s stock.

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.