Liontrust Investment Partners LLP Invests $43.19 Million in CAVA Group, Inc. $CAVA

Liontrust Investment Partners LLP purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 714,934 shares of the company’s stock, valued at approximately $43,189,000.

Several other hedge funds also recently bought and sold shares of CAVA. Cornerstone Planning Group LLC lifted its position in shares of CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares in the last quarter. Western Pacific Wealth Management LP bought a new stake in CAVA Group during the 3rd quarter valued at about $33,000. CNB Bank boosted its position in CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after buying an additional 422 shares during the period. Finally, National Bank of Canada FI grew its stake in CAVA Group by 195.1% in the 3rd quarter. National Bank of Canada FI now owns 717 shares of the company’s stock worth $43,000 after acquiring an additional 474 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAVA. Citigroup boosted their price target on CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. UBS Group raised their price objective on CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Sanford C. Bernstein lifted their target price on CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Truist Financial upped their target price on CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Telsey Advisory Group raised their price target on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.04.

Insiders Place Their Bets

In other news, insider Kenneth Robert Bertram sold 1,074 shares of CAVA Group stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $72,398.34. Following the transaction, the insider owned 50,116 shares of the company’s stock, valued at $3,378,319.56. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer owned 231,934 shares of the company’s stock, valued at approximately $14,412,378.76. This trade represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,055 shares of company stock valued at $2,572,303 in the last three months. 12.10% of the stock is currently owned by insiders.

CAVA Group Trading Up 3.6%

Shares of NYSE CAVA opened at $90.39 on Wednesday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50. The stock’s fifty day simple moving average is $71.35 and its two-hundred day simple moving average is $62.73. The stock has a market capitalization of $10.52 billion, a PE ratio of 167.38, a price-to-earnings-growth ratio of 7.51 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The firm had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. During the same period in the prior year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities analysts predict that CAVA Group, Inc. will post 0.5 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.