Driehaus Capital Management LLC Acquires 250,110 Shares of CAVA Group, Inc. (NYSE:CAVA)

Driehaus Capital Management LLC lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 51.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 732,603 shares of the company’s stock after buying an additional 250,110 shares during the period. Driehaus Capital Management LLC’s holdings in CAVA Group were worth $67,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of CAVA Group by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 124,035 shares of the company’s stock valued at $5,331,000 after purchasing an additional 2,287 shares during the period. Principal Financial Group Inc. purchased a new position in shares of CAVA Group in the 4th quarter valued at approximately $2,518,000. Janney Montgomery Scott LLC lifted its stake in shares of CAVA Group by 46.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,947 shares of the company’s stock worth $986,000 after buying an additional 7,263 shares during the period. UBS Group AG lifted its position in CAVA Group by 190.9% during the 4th quarter. UBS Group AG now owns 139,167 shares of the company’s stock worth $5,981,000 after acquiring an additional 91,333 shares during the period. Finally, TD Asset Management Inc boosted its position in CAVA Group by 234.5% in the fourth quarter. TD Asset Management Inc now owns 198,500 shares of the company’s stock valued at $8,532,000 after buying an additional 139,160 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $123.76 on Friday. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 301.86 and a beta of 3.34. The business has a 50-day moving average of $104.31 and a 200 day moving average of $86.85. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $131.82.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. Equities research analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brett Schulman sold 201,504 shares of the business’s 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 completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Tricia K. Tolivar sold 5,949 shares of the 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 completion of the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group 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 completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The disclosure for this sale can be found here. Insiders sold 310,943 shares of company stock worth $38,872,086 in the last 90 days.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup raised their target price on CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Loop Capital upped their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $90.00 to $110.00 in a research note on Thursday, August 29th. TD Securities upped their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus increased their price target on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.64.

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.