Synovus Financial Corp Has $566,000 Holdings in CAVA Group, Inc. (NYSE:CAVA)

Synovus Financial Corp cut its stake in CAVA Group, Inc. (NYSE:CAVA) by 42.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,019 shares of the company’s stock after selling 3,655 shares during the period. Synovus Financial Corp’s holdings in CAVA Group were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Howard Financial Services LTD. raised its position in CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC raised its position in shares of CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after acquiring an additional 127 shares during the period. Mainstream Capital Management LLC boosted its holdings in CAVA Group by 0.7% in the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after acquiring an additional 132 shares during the last quarter. Finally, PSI Advisors LLC increased its position in CAVA Group by 11.3% in the fourth quarter. PSI Advisors LLC now owns 1,473 shares of the company’s stock worth $166,000 after purchasing an additional 150 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Up 0.6 %

Shares of CAVA stock opened at $86.03 on Friday. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 187.03 and a beta of 3.33. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43. The firm has a fifty day moving average of $93.20 and a 200-day moving average of $117.65.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CAVA shares. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a research note on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group cut their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, Citigroup cut their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.56.

Insider Buying and Selling at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,235 shares of company stock worth $3,514,101. Corporate insiders own 12.10% of the company’s stock.

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.