Boussard & Gavaudan Investment Management LLP Sells 20,646 Shares of CAVA Group, Inc. (NYSE:CAVA)

Boussard & Gavaudan Investment Management LLP lessened its holdings in CAVA Group, Inc. (NYSE:CAVA) by 57.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,200 shares of the company’s stock after selling 20,646 shares during the period. Boussard & Gavaudan Investment Management LLP’s holdings in CAVA Group were worth $1,876,000 as of its most recent filing with the Securities & Exchange Commission.

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

CAVA Group Stock Performance

NYSE CAVA opened at $141.23 on Thursday. The business’s 50 day moving average price is $134.81 and its 200-day moving average price is $108.31. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The company has a market cap of $16.18 billion, a P/E ratio of 307.02 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The business’s revenue was up 38.9% compared to the same quarter last year. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

CAVA has been the topic of several recent analyst reports. Robert W. Baird raised their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. Citigroup upped their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen boosted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

Insiders Place Their Bets

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. This represents a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.10% of the stock is owned by insiders.

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.