5,097 Shares in CAVA Group, Inc. (NYSE:CAVA) Acquired by &Partners

&Partners bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,097 shares of the company’s stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 3,377,840 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of CAVA Group by 79.5% in 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. Lord Abbett & CO. LLC raised its position in shares of CAVA Group by 55.9% during the first 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 period. Finally, Franklin Resources Inc. lifted its holdings in shares of CAVA Group by 21.6% during the fourth quarter. Franklin Resources Inc. now owns 715,325 shares of the company’s stock valued at $30,745,000 after purchasing an additional 127,146 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA opened at $122.00 on Friday. The company has a market capitalization of $13.91 billion, a PE ratio of 297.56 and a beta of 3.27. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $125.87. The company’s fifty day moving average price is $89.86 and its 200 day moving average price is $76.01.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The company had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 35.1% compared to the same quarter last year. Analysts anticipate that CAVA Group, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the transaction, the insider now owns 67,005 shares in the company, valued at approximately $6,384,236.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Brett Schulman sold 66,414 shares of CAVA Group stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the sale, the chief executive officer now directly owns 904,094 shares in the company, valued at approximately $81,467,910.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kenneth Robert Bertram sold 5,250 shares of CAVA Group stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the sale, the insider now owns 67,005 shares in the company, valued at $6,384,236.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,420,564 shares of company stock worth $124,690,835.

Wall Street Analyst Weigh In

CAVA has been the topic of several research reports. Jefferies Financial Group upped their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird upped 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. Morgan Stanley raised their price objective on shares of CAVA Group from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Citigroup increased their price target on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price objective for the company. in a report on Monday, June 3rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.17.

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.