Armstrong Fleming & Moore Inc Cuts Holdings in CAVA Group, Inc. (NYSE:CAVA)

Armstrong Fleming & Moore Inc decreased its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 13.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 257,803 shares of the company's stock after selling 40,000 shares during the quarter. CAVA Group comprises 18.6% of Armstrong Fleming & Moore Inc's holdings, making the stock its largest position. Armstrong Fleming & Moore Inc owned 0.23% of CAVA Group worth $31,929,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company's stock valued at $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company's stock valued at $372,059,000 after buying an additional 942,054 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of CAVA Group during the first quarter worth approximately $38,225,000. Lord Abbett & CO. LLC raised its holdings in CAVA Group by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company's stock valued at $96,231,000 after acquiring an additional 492,667 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of CAVA Group by 102.5% in the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company's stock valued at $82,770,000 after purchasing an additional 451,800 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, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 sale, the chief executive officer now directly owns 702,590 shares of the company's stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock valued at $38,310,084. Insiders own 12.10% of the company's stock.

CAVA Group Stock Performance

CAVA stock traded up $0.19 during trading on Thursday, hitting $134.35. The stock had a trading volume of 1,268,669 shares, compared to its average volume of 2,757,778. CAVA Group, Inc. has a 1-year low of $29.66 and a 1-year high of $135.63. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 327.54 and a beta of 3.33. The company's 50 day moving average price is $117.58 and its two-hundred day moving average price is $93.06.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. CAVA Group's revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wedbush boosted their target price on CAVA Group from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. Barclays lifted their target price on CAVA Group from $72.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, August 23rd. Loop Capital boosted their price objective on CAVA Group from $80.00 to $122.00 and gave the company a "hold" rating in a research note on Monday, August 26th. Citigroup raised their price objective on shares of CAVA Group from $93.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $77.00 to $90.00 and gave the company a "neutral" rating in a report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and an average price target of $115.64.

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.