DekaBank Deutsche Girozentrale Acquires New Position in CAVA Group, Inc. (NYSE:CAVA)

DekaBank Deutsche Girozentrale bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,055 shares of the company’s stock, valued at approximately $1,871,000.

Other large investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. bought a new stake in shares of CAVA Group during the 2nd quarter valued at $28,000. CWM LLC increased its stake in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares in the last quarter. Headlands Technologies LLC bought a new stake in CAVA Group during the second quarter valued at about $37,000. Mather Group LLC. purchased a new position in shares of CAVA Group in the second quarter valued at about $45,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of CAVA Group during the second quarter worth about $46,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Up 1.6 %

CAVA opened at $124.43 on Thursday. The stock has a 50-day moving average of $99.15 and a 200 day moving average of $84.21. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $128.18. The firm has a market cap of $14.19 billion, a P/E ratio of 303.49 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s quarterly revenue was up 35.1% on a year-over-year basis. On average, research analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wedbush boosted their price target on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Piper Sandler downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $90.00 to $110.00 in a research note on Thursday, August 29th. Barclays lifted their price target on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus increased their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.58.

Insider Buying and Selling at CAVA Group

In other news, Director Theodoros Xenohristos sold 90,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at approximately $38,665,234.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Theodoros Xenohristos sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the transaction, the director now owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The disclosure for this sale can be found here. Insiders have sold 400,943 shares of company stock worth $47,062,986 over the last quarter.

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.