Capital International Inc. CA Purchases Shares of 12,981 CAVA Group, Inc. $CAVA

Capital International Inc. CA purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 12,981 shares of the company’s stock, valued at approximately $762,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors raised its stake in CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after buying an additional 656,581 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in CAVA Group in the fourth quarter valued at about $25,000. Bank of New York Mellon Corp raised its stake in CAVA Group by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 632,857 shares of the company’s stock valued at $37,142,000 after buying an additional 4,444 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in CAVA Group by 74.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,112,120 shares of the company’s stock valued at $65,270,000 after buying an additional 473,206 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in CAVA Group by 90.0% in the fourth quarter. Natixis Advisors LLC now owns 56,842 shares of the company’s stock valued at $3,336,000 after buying an additional 26,920 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Adam David Phillips sold 5,181 shares of the firm’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 transaction, the chief accounting officer owned 9,505 shares in the company, valued at $733,215.70. This trade represents a 35.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kelly Costanza sold 10,010 shares of the firm’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 value of $799,498.70. Following the completion of the transaction, the insider owned 113,850 shares in the company, valued at approximately $9,093,199.50. This trade represents a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter. 6.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CAVA. Truist Financial increased their price objective on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Mizuho increased their price objective on CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Wall Street Zen raised CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. DA Davidson raised their target price on CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. raised 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 investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average price target of $93.19.

CAVA Group Trading Up 1.4%

Shares of CAVA opened at $73.61 on Tuesday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The stock’s 50 day moving average is $83.05 and its two-hundred day moving average is $72.00. The firm has a market cap of $8.57 billion, a P/E ratio of 141.56, a PEG ratio of 4.98 and a beta of 1.70.

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 the consensus estimate of $0.17 by $0.03. The business had revenue of $438.27 million for 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%.The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 earnings per share. Equities research analysts forecast that CAVA Group, Inc. will post 0.55 EPS for the current 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.