2,450 Shares in CAVA Group, Inc. (NYSE:CAVA) Bought by Congress Asset Management Co.

Congress Asset Management Co. acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,450 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stratos Wealth Partners LTD. boosted its holdings in shares of CAVA Group by 4.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,293 shares of the company’s stock worth $710,000 after buying an additional 251 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in CAVA Group in the 4th quarter valued at about $553,000. Golden State Wealth Management LLC bought a new stake in CAVA Group in the 4th quarter valued at about $47,000. Kingsview Wealth Management LLC boosted its holdings in CAVA Group by 2.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 24,288 shares of the company’s stock valued at $2,740,000 after purchasing an additional 633 shares during the period. Finally, Empowered Funds LLC bought a new stake in CAVA Group in the 4th quarter valued at about $5,007,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CAVA. Bank of America upped their price target on shares of CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Sanford C. Bernstein upgraded shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research report on Wednesday, April 23rd. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $78.31 on Tuesday. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The company has a market cap of $9.06 billion, a PE ratio of 170.24 and a beta of 2.77. The business has a 50-day simple moving average of $87.61 and a 200-day simple moving average of $105.11.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The company had revenue of $331.83 million during the quarter, compared to analysts’ expectations of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, insider Kelly Costanza sold 10,243 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares of the company’s stock, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the transaction, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

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.