Mark Sheptoff Financial Planning LLC Invests $36,000 in CAVA Group, Inc. (NYSE:CAVA)

Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group, Inc. (NYSE:CAVA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 388 shares of the company’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CAVA. Capital Research Global Investors lifted its holdings in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Vanguard Group Inc. raised its position in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the period. 1832 Asset Management L.P. lifted its stake in CAVA Group by 79.5% in the fourth 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. Lord Abbett & CO. LLC boosted its position in CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after buying an additional 492,667 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of CAVA Group by 9.7% during the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after buying an additional 93,635 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insiders Place Their Bets

In other news, Director Theodoros Xenohristos sold 90,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the sale, the director now owns 424,846 shares in the company, valued at approximately $38,665,234.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other CAVA Group news, Director Theodoros Xenohristos sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 400,943 shares of company stock worth $47,062,986.

CAVA Group Price Performance

CAVA stock opened at $124.43 on Thursday. CAVA Group, Inc. has a 1 year low of $29.05 and a 1 year high of $128.18. The firm has a 50-day moving average of $99.15 and a 200 day moving average of $84.21. The company 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS. On average, equities research analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAVA. Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and increased their target price for the company from $63.00 to $92.00 in a report on Thursday, May 30th. Jefferies Financial Group increased their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus upped their price target 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. Loop Capital raised their price target on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Finally, TD Cowen reaffirmed a “buy” rating and set a $115.00 price objective on shares of CAVA Group in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $111.58.

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.