9,853 Shares in CAVA Group, Inc. (NYSE:CAVA) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the second quarter, Holdings Channel reports. The fund bought 9,853 shares of the company’s stock, valued at approximately $914,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC raised its holdings in shares of 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 in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in CAVA Group in the first quarter valued at approximately $3,213,000. Swiss National Bank bought a new stake in CAVA Group during the fourth quarter valued at approximately $1,926,000. Stephens Inc. AR purchased a new position in CAVA Group in the 4th quarter worth approximately $1,014,000. Finally, Cetera Investment Advisers bought a new position in shares of CAVA Group in the 1st quarter worth $2,455,000. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Trading Up 1.6 %

CAVA stock opened at $124.43 on Thursday. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 303.49 and a beta of 3.34. The firm’s 50-day moving average price is $99.15 and its two-hundred day moving average price is $84.21. CAVA Group, Inc. has a 12-month low of $29.05 and a 12-month high of $128.18.

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, beating analysts’ consensus estimates of $0.13 by $0.04. The business 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 period in the previous year, the firm earned $0.21 EPS. Equities analysts predict that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the transaction, the chief financial officer now owns 297,600 shares of the company’s stock, valued at $28,114,272. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,943 shares of company stock valued at $47,062,986.

Analyst Ratings Changes

CAVA has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird increased their price objective on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Citigroup boosted their target price on CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and increased their price target for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Finally, Loop Capital boosted their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.58.

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.