CAVA Group, Inc. $CAVA Position Increased by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 1,327.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,709 shares of the company’s stock after purchasing an additional 34,138 shares during the period. Fifth Third Bancorp’s holdings in CAVA Group were worth $2,970,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAVA. SG Americas Securities LLC lifted its holdings in shares of CAVA Group by 74.2% during the 4th quarter. SG Americas Securities LLC now owns 32,817 shares of the company’s stock valued at $1,926,000 after buying an additional 13,977 shares during the last quarter. KBC Group NV increased its holdings in CAVA Group by 513.6% in the fourth quarter. KBC Group NV now owns 15,531 shares of the company’s stock worth $912,000 after buying an additional 13,000 shares during the last quarter. Prime Capital Management Co Ltd increased its holdings in CAVA Group by 90.6% in the fourth quarter. Prime Capital Management Co Ltd now owns 1,031,630 shares of the company’s stock worth $60,546,000 after buying an additional 490,300 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in CAVA Group during the fourth quarter valued at approximately $19,460,000. Finally, Nepsis Inc. lifted its stake in CAVA Group by 42.6% in the fourth quarter. Nepsis Inc. now owns 176,694 shares of the company’s stock valued at $10,370,000 after acquiring an additional 52,776 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CAVA shares. Telsey Advisory Group boosted their target price on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada boosted their price objective on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Piper Sandler raised their target price on shares of CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Barclays raised their target price on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.54.

Insider Activity at CAVA Group

In other news, insider Kelly Costanza sold 12,490 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the transaction, the insider directly owned 98,490 shares in the company, valued at $8,864,100. This represents a 11.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the sale, the chief accounting officer directly owned 9,505 shares of the company’s stock, valued at approximately $733,215.70. The trade was a 35.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 91,747 shares of company stock valued at $7,970,838 over the last ninety days. Company insiders own 6.70% of the company’s stock.

CAVA Group Trading Down 7.8%

CAVA Group stock opened at $63.48 on Tuesday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The company has a market cap of $7.39 billion, a PE ratio of 122.08, a PEG ratio of 4.72 and a beta of 1.69. The company’s 50-day moving average is $77.65 and its two-hundred day moving average is $77.21.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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%.The firm’s revenue was up 32.1% on a year-over-year basis. 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.