GAMMA Investing LLC Grows Position in CAVA Group, Inc. (NYSE:CAVA)

GAMMA Investing LLC boosted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 68.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 308 shares of the company’s stock after acquiring an additional 125 shares during the quarter. GAMMA Investing LLC’s holdings in CAVA Group were worth $38,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CAVA. Capital Research Global Investors lifted its stake 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 valued at $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Vanguard Group Inc. increased its holdings in CAVA Group by 215.7% during 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 last quarter. Lord Abbett & CO. LLC increased its holdings in CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after purchasing an additional 492,667 shares during the last quarter. Federated Hermes Inc. increased its holdings in CAVA Group by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after purchasing an additional 93,635 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of CAVA Group by 102.5% in the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

NYSE:CAVA opened at $135.36 on Friday. The company has a market cap of $15.43 billion, a PE ratio of 330.15 and a beta of 3.33. CAVA Group, Inc. has a one year low of $29.66 and a one year high of $135.86. The firm’s 50 day simple moving average is $119.49 and its 200 day simple moving average is $93.81.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAVA. Jefferies Financial Group boosted their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Argus boosted their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. TD Cowen boosted their price objective on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 target price on the stock. Finally, Robert W. Baird boosted their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $115.64.

Insider Activity at CAVA Group

In other CAVA Group news, 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 transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the 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 completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. Corporate insiders own 12.10% of the company’s stock.

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.