Geode Capital Management LLC Purchases 40,356 Shares of CAVA Group, Inc. $CAVA

Geode Capital Management LLC raised its position in CAVA Group, Inc. (NYSE:CAVA) by 2.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,936,699 shares of the company’s stock after acquiring an additional 40,356 shares during the period. Geode Capital Management LLC owned about 1.67% of CAVA Group worth $113,687,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $36,000. TD Private Client Wealth LLC increased its position in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of CAVA Group by 115.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In other news, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer directly owned 9,505 shares in the company, valued at approximately $733,215.70. This represents a 35.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the completion of the transaction, the insider owned 327,882 shares of the company’s stock, 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 ninety days. 6.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Telsey Advisory Group boosted their price target on CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Citigroup boosted their price target on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Piper Sandler boosted their price target on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. BMO Capital Markets set a $100.00 target price on CAVA Group in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. boosted their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average price target of $93.19.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $72.57 on Friday. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The stock has a 50 day moving average price of $83.16 and a two-hundred day moving average price of $71.61. The stock has a market capitalization of $8.45 billion, a PE ratio of 139.55, a price-to-earnings-growth ratio of 4.92 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.CAVA Group’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. Research analysts forecast that CAVA Group, Inc. will post 0.55 EPS for the current year.

CAVA Group 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.