BNP Paribas Financial Markets Buys 116,783 Shares of CAVA Group, Inc. $CAVA

BNP Paribas Financial Markets boosted its stake in CAVA Group, Inc. (NYSE:CAVA) by 36.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 436,927 shares of the company’s stock after acquiring an additional 116,783 shares during the quarter. BNP Paribas Financial Markets’ holdings in CAVA Group were worth $25,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Liontrust Investment Partners LLP acquired a new position in CAVA Group in the 3rd quarter valued at approximately $43,189,000. Leibman Financial Services Inc. grew its holdings in CAVA Group by 162.9% in the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after purchasing an additional 41,712 shares during the period. Alliancebernstein L.P. grew its holdings in CAVA Group by 118.3% in the third 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 period. Envestnet Asset Management Inc. grew its holdings in CAVA Group by 57.7% in the third quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after purchasing an additional 81,393 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CAVA Group by 20.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock valued at $6,265,000 after buying an additional 17,600 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CAVA shares. JPMorgan Chase & Co. lifted their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Robert W. Baird lifted their target price on shares of CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Weiss Ratings raised shares of CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. DA Davidson lifted their target price on shares of CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Finally, Telsey Advisory Group boosted their target price on shares of CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

CAVA Group Stock Up 1.1%

CAVA opened at $72.14 on Friday. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 138.74, a PEG ratio of 4.89 and a beta of 1.70. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The company’s 50-day moving average price is $83.31 and its two-hundred day moving average price is $71.60.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In related news, insider Kelly Costanza sold 10,010 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70. Following the sale, the insider directly owned 113,850 shares in the company, valued at approximately $9,093,199.50. This represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the sale, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 24,235 shares of company stock worth $1,920,420 over the last three months. 6.70% of the stock is currently owned by insiders.

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.