CAVA Group, Inc. $CAVA Shares Purchased by Capital Research Global Investors

Capital Research Global Investors boosted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 27.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,440,040 shares of the company’s stock after buying an additional 1,805,174 shares during the quarter. Capital Research Global Investors owned 7.28% of CAVA Group worth $495,344,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CAVA. Los Angeles Capital Management LLC acquired a new position in CAVA Group in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC grew its position in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. TD Private Client Wealth LLC grew its position in 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 in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in CAVA Group during the 3rd quarter worth approximately $36,000. Finally, Allworth Financial LP grew its position in CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 0.0%

CAVA Group stock opened at $72.57 on Monday. The company’s fifty day simple moving average is $83.16 and its 200-day simple moving average is $71.79. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The stock has a market cap of $8.45 billion, a P/E ratio of 139.55, a P/E/G ratio of 4.98 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. During the same period in the previous year, the company posted $0.22 EPS. CAVA Group’s revenue was up 32.1% on a year-over-year basis. On average, equities research analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Theodoros Xenohristos sold 9,044 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the transaction, the chief accounting officer owned 9,505 shares in the company, valued at approximately $733,215.70. This represents a 35.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,235 shares of company stock worth $1,920,420 in the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Barclays lifted their price objective on shares of CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. KeyCorp lifted their price objective on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Wall Street Zen upgraded shares of CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Robert W. Baird lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.19.

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.