Diversified Trust Co. Has $1.25 Million Stake in CAVA Group, Inc. $CAVA

Diversified Trust Co. lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 76.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,360 shares of the company’s stock after buying an additional 9,233 shares during the quarter. Diversified Trust Co.’s holdings in CAVA Group were worth $1,254,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CAVA. Vanguard Group Inc. raised its position in CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after acquiring an additional 313,938 shares in the last quarter. Capital Research Global Investors grew its position in CAVA Group by 28.5% in the third quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock worth $400,801,000 after acquiring an additional 1,469,758 shares in the last quarter. Capital International Investors grew its position in CAVA Group by 105.4% in the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after acquiring an additional 2,169,553 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after purchasing an additional 1,600,630 shares during the last quarter. Finally, State Street Corp increased its stake in shares of CAVA Group by 5.0% during the 2nd quarter. State Street Corp now owns 2,543,335 shares of the company’s stock worth $214,225,000 after purchasing an additional 122,163 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Argus reiterated a “hold” rating on shares of CAVA Group in a research note on Friday, February 27th. Benchmark raised CAVA Group to a “strong-buy” rating in a research note on Thursday, February 5th. Johnson Rice set a $72.00 target price on CAVA Group in a report on Monday, January 5th. TD Cowen upped their target price on CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average target price of $84.68.

CAVA Group Price Performance

NYSE:CAVA opened at $78.83 on Friday. The stock has a market cap of $9.17 billion, a P/E ratio of 145.98, a PEG ratio of 6.85 and a beta of 2.16. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $101.50. The company has a fifty day moving average price of $73.38 and a 200 day moving average price of $63.67.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the transaction, the insider directly owned 332,205 shares of the company’s stock, valued at $20,643,218.70. This trade represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kelly Costanza sold 1,707 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the transaction, the insider owned 119,139 shares in the company, valued at approximately $7,403,297.46. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 39,055 shares of company stock worth $2,572,303. Insiders own 6.80% 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.