Counterpoint Mutual Funds LLC Takes Position in CAVA Group, Inc. $CAVA

Counterpoint Mutual Funds LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,994 shares of the company’s stock, valued at approximately $566,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in CAVA Group during the 4th quarter valued at $25,000. Harbor Investment Advisory LLC increased its holdings in shares of CAVA Group by 347.8% in 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 in the last quarter. TD Private Client Wealth LLC raised its stake in shares of CAVA Group by 118.2% in the fourth 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. Strategic Investment Solutions Inc. IL purchased a new position in shares of CAVA Group in the third quarter worth $36,000. Finally, Allworth Financial LP lifted its holdings in shares of CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAVA has been the topic of several recent analyst reports. Weiss Ratings raised CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Freedom Capital raised CAVA Group to a “hold” rating in a research report on Wednesday. Piper Sandler upped 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. TD Cowen reaffirmed a “buy” rating and set a $100.00 price target on shares of CAVA Group in a report on Thursday, June 4th. Finally, Citigroup lifted their price target on shares of CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.44.

Insider Activity

In other news, Director Karen Kochevar sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director owned 3,074 shares in the company, valued at $276,660. This represents a 76.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam David Phillips sold 757 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $67,698.51. Following the completion of the transaction, the chief accounting officer directly owned 6,848 shares in the company, valued at approximately $612,416.64. The trade was a 9.95% decrease in their position. 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. Over the last ninety days, insiders have sold 91,747 shares of company stock worth $7,970,838. Company insiders own 6.70% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA opened at $76.74 on Friday. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79. The firm has a market capitalization of $8.94 billion, a P/E ratio of 147.57, a PEG ratio of 5.27 and a beta of 1.69. The business has a fifty day moving average of $82.04 and a 200 day moving average of $76.16.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company 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%.CAVA Group’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. Analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

CAVA Group Company 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.