Mercer Global Advisors Inc. ADV Purchases Shares of 2,776 CAVA Group, Inc. (NYSE:CAVA)

Mercer Global Advisors Inc. ADV purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,776 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC increased its position in CAVA Group by 69.1% in the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock valued at $2,355,000 after acquiring an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in CAVA Group during the 1st quarter valued at $3,213,000. Stephens Inc. AR bought a new stake in shares of CAVA Group during the 4th quarter worth $1,014,000. Cetera Investment Advisers bought a new stake in shares of CAVA Group during the 1st quarter worth $2,455,000. Finally, California State Teachers Retirement System lifted its holdings in shares of CAVA Group by 54.6% in the first quarter. California State Teachers Retirement System now owns 35,861 shares of the company’s stock valued at $2,512,000 after purchasing an additional 12,660 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CAVA shares. Barclays lifted their price objective on CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. UBS Group assumed coverage on CAVA Group in a report on Friday. They set a “neutral” rating and a $135.00 price objective on the stock. Citigroup upped their price objective 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 price objective on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Finally, TD Cowen increased their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.64.

CAVA Group Stock Performance

CAVA stock opened at $123.80 on Tuesday. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $131.82. The business’s 50 day moving average price is $105.19 and its two-hundred day moving average price is $87.57. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 300.88 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The business had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Sell-side analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, 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 have sold 304,994 shares of company stock valued at $38,310,084 in the last ninety days.

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.