Traynor Capital Management Inc. Makes New $287,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Traynor Capital Management Inc. purchased a new position in CAVA Group, Inc. (NYSE:CAVA) in the 1st quarter, HoldingsChannel reports. The fund purchased 4,095 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors have also modified their holdings of CAVA. Capital Research Global Investors grew its stake in shares of CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after acquiring an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the last quarter. FMR LLC lifted its position in shares of CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after purchasing an additional 545,799 shares during the last quarter. Armstrong Fleming & Moore Inc purchased a new stake in shares of CAVA Group during the 4th quarter worth $16,341,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of CAVA Group during the 4th quarter worth $13,095,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Down 1.7 %

CAVA Group stock opened at $90.85 on Tuesday. The stock has a market cap of $10.36 billion and a price-to-earnings ratio of 221.59. The company’s 50-day moving average price is $79.25 and its two-hundred day moving average price is $62.00. CAVA Group, Inc. has a 52 week low of $29.05 and a 52 week high of $97.64.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. The business had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts expect that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, April 10th. TD Cowen upped their target price on shares of CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, Stifel Nicolaus boosted their price target on shares of CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Six 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 5,250 shares of CAVA Group stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the transaction, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Karen Kochevar sold 20,972 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $93.60, for a total transaction of $1,962,979.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the transaction, the insider now directly owns 67,005 shares in the company, valued at $6,384,236.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,324,615 shares of company stock valued at $115,937,932 over the last ninety days.

CAVA Group 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.