International Assets Investment Management LLC Invests $126.39 Million in CAVA Group, Inc. (NYSE:CAVA)

International Assets Investment Management LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 102,052 shares of the company’s stock, valued at approximately $126,390,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group during the second quarter valued at $28,000. Nemes Rush Group LLC bought a new position in CAVA Group during the second quarter valued at $28,000. GAMMA Investing LLC lifted its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group during the second quarter valued at $36,000. Finally, Headlands Technologies LLC bought a new position in CAVA Group during the second quarter valued at $37,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 1.8 %

Shares of CAVA Group stock opened at $136.17 on Friday. The firm’s 50 day moving average price is $123.64 and its 200-day moving average price is $96.30. CAVA Group, Inc. has a 52-week low of $29.66 and a 52-week high of $140.69. The company has a market cap of $15.53 billion, a P/E ratio of 332.12 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 approximately $53,432,881.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 in the last three months. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CAVA shares. Barclays increased their price objective on shares of CAVA Group from $95.00 to $113.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Wedbush raised their price target on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, TD Securities raised their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.93.

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.