Creative Planning Buys 1,000 Shares of CAVA Group, Inc. (NYSE:CAVA)

Creative Planning grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 24.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,046 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Creative Planning’s holdings in CAVA Group were worth $468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors raised its stake in CAVA Group by 21.6% in the 1st 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. grew its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after acquiring an additional 492,667 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of 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 in the last quarter. Finally, Renaissance Technologies LLC raised its stake in CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 0.6 %

NYSE CAVA opened at $133.96 on Wednesday. The business has a fifty day simple moving average of $116.55 and a 200 day simple moving average of $92.77. CAVA Group, Inc. has a 12 month low of $29.66 and a 12 month high of $135.57. The firm has a market capitalization of $15.28 billion, a P/E ratio of 326.73 and a beta of 3.33.

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

Insiders Place Their Bets

In other news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CAVA Group 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 transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’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 transaction, the chief financial officer now owns 292,600 shares in the company, 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 a total of 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CAVA shares. Jefferies Financial Group lifted their price target on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird increased their target price on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, August 26th. UBS Group started coverage on shares of CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.64.

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.