Dark Forest Capital Management LP Buys 2,735 Shares of CAVA Group, Inc. (NYSE:CAVA)

Dark Forest Capital Management LP grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 34.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,751 shares of the company’s stock after acquiring an additional 2,735 shares during the period. Dark Forest Capital Management LP’s holdings in CAVA Group were worth $997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of CAVA Group by 215.7% in the first 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 last quarter. Capital Research Global Investors raised its position in shares of CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after buying an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings 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 acquiring an additional 995,800 shares during the last quarter. Artemis Investment Management LLP purchased a new position in CAVA Group in the first quarter worth $38,225,000. Finally, Lord Abbett & CO. LLC increased its stake in CAVA Group by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after acquiring an additional 492,667 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Trading Up 0.2 %

Shares of NYSE:CAVA opened at $127.07 on Friday. The company has a 50-day moving average price of $104.31 and a 200-day moving average price of $86.85. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 309.93 and a beta of 3.34. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $131.82.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business 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%. CAVA Group’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, research analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAVA. Wedbush lifted their price target on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Piper Sandler lowered CAVA Group from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $63.00 to $92.00 in a research note on Thursday, May 30th. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Loop Capital upped their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Finally, Argus increased their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.15.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction 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 directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders sold 310,943 shares of company stock valued at $38,872,086 over the last quarter.

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.