CAVA Group, Inc. $CAVA Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in CAVA Group, Inc. (NYSE:CAVA) by 17,804.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,280 shares of the company’s stock after purchasing an additional 11,217 shares during the quarter. Bessemer Group Inc.’s holdings in CAVA Group were worth $681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $31,000. Cornerstone Planning Group LLC grew its holdings in CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after buying an additional 356 shares in the last quarter. Whittier Trust Co. increased its position in CAVA Group by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares during the period. Toth Financial Advisory Corp raised its stake in CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 440 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in CAVA Group during the 2nd quarter worth $45,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Down 5.0%

NYSE:CAVA opened at $68.87 on Wednesday. The business’s 50-day moving average price is $62.03 and its 200 day moving average price is $62.99. The firm has a market cap of $7.99 billion, a P/E ratio of 59.37, a PEG ratio of 5.32 and a beta of 2.41. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $139.62.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CAVA shares. Benchmark raised CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Barclays increased their target price on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada set a $70.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. KeyCorp reduced their price target on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Truist Financial increased their price objective on shares of CAVA Group from $66.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Activity at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer owned 807,325 shares in the company, valued at approximately $54,421,778.25. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kelly Costanza sold 1,707 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the transaction, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 42,843 shares of company stock worth $2,764,355. Company insiders own 12.10% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.