Capital International Investors Purchases 656,581 Shares of CAVA Group, Inc. $CAVA

Capital International Investors boosted its position in CAVA Group, Inc. (NYSE:CAVA) by 15.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,885,317 shares of the company’s stock after buying an additional 656,581 shares during the period. Capital International Investors owned approximately 4.21% of CAVA Group worth $286,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Liontrust Investment Partners LLP bought a new stake in CAVA Group in the 3rd quarter valued at about $43,189,000. Leibman Financial Services Inc. increased its position in CAVA Group by 162.9% in the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after buying an additional 41,712 shares in the last quarter. Alliancebernstein L.P. increased its position in CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares in the last quarter. Envestnet Asset Management Inc. increased its position in CAVA Group by 57.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock valued at $13,441,000 after buying an additional 81,393 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CAVA Group by 20.4% in the 3rd 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 in the last quarter. 73.15% of the stock is owned by institutional investors.

Insider Transactions at CAVA Group

In other news, insider Kelly Costanza sold 10,010 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.87, for a total value of $799,498.70. Following the transaction, the insider owned 113,850 shares in the company, valued at $9,093,199.50. The trade was a 8.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the business’s stock in a transaction that occurred on 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 owned 9,505 shares in the company, valued at $733,215.70. The trade was a 35.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,235 shares of company stock worth $1,920,420 in the last 90 days. Insiders own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAVA. BMO Capital Markets set a $100.00 target price on CAVA Group in a research report on Wednesday, May 20th. Benchmark boosted their target price on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $95.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. Robert W. Baird boosted their target price on CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $93.19.

CAVA Group Stock Performance

CAVA stock opened at $72.57 on Monday. The company has a market capitalization of $8.45 billion, a P/E ratio of 139.55, a price-to-earnings-growth ratio of 4.98 and a beta of 1.70. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The business has a 50-day simple moving average of $83.16 and a two-hundred day simple moving average of $71.79.

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

About CAVA Group

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.