Van ECK Associates Corp Has $230,000 Stake in CAVA Group, Inc. (NYSE:CAVA)

Van ECK Associates Corp decreased its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 70.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,684 shares of the company's stock after selling 4,058 shares during the quarter. Van ECK Associates Corp's holdings in CAVA Group were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group in the 2nd quarter worth $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group during the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in CAVA Group during the second quarter worth $37,000. Finally, GAMMA Investing LLC increased its stake in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on 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 in the company, valued at $88,196,122.70. This represents a 22.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 292,600 shares of the company's stock, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock valued at $38,310,084. Corporate insiders own 12.10% of the company's stock.

CAVA Group Trading Down 6.1 %

NYSE:CAVA traded down $9.01 during mid-day trading on Thursday, hitting $138.29. The company had a trading volume of 5,902,041 shares, compared to its average volume of 2,757,986. The business has a fifty day simple moving average of $130.75 and a 200-day simple moving average of $103.50. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 298.04 and a beta of 3.23.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm's revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CAVA. TD Cowen lifted their target price on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday. Stifel Nicolaus increased their target price on CAVA Group from $118.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group increased their target price on CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, Loop Capital raised 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. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.14.

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.