William Blair Investment Management LLC Purchases Shares of 1,145,019 CAVA Group, Inc. $CAVA

William Blair Investment Management LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,145,019 shares of the company’s stock, valued at approximately $89,861,000.

Several other large investors have also recently made changes to their positions in CAVA. Modern Wealth Management LLC boosted its position in shares of CAVA Group by 4.2% during the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after purchasing an additional 158 shares during the period. Bridgewater Associates LP raised its position in CAVA Group by 2.4% in the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock valued at $401,000 after purchasing an additional 163 shares during the period. Western Pacific Wealth Management LP raised its position in CAVA Group by 32.5% in the fourth quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock valued at $43,000 after purchasing an additional 179 shares during the period. Allworth Financial LP raised its position in CAVA Group by 57.4% in 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 during the period. Finally, Clearstead Advisors LLC lifted its stake in CAVA Group by 18.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock worth $92,000 after purchasing an additional 241 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the completion of the transaction, the insider owned 324,630 shares in the company, valued at approximately $29,031,660.90. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tricia K. Tolivar sold 4,969 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $444,377.67. Following the transaction, the chief financial officer directly owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. This represents a 2.07% decrease in their ownership of the stock. 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 sold a total of 67,512 shares of company stock valued at $6,050,417 in the last 90 days. Insiders own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Freedom Capital upgraded CAVA Group to a “hold” rating in a research report on Wednesday, July 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, August 12th. Northcoast Research raised CAVA Group from a “sell” rating to a “neutral” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised their target price on CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Piper Sandler raised their target price on CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CAVA Group Stock Up 2.2%

CAVA Group stock opened at $73.64 on Friday. The firm has a market cap of $8.60 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 4.96 and a beta of 1.74. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The company’s 50 day moving average is $71.99 and its two-hundred day moving average is $77.16.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The firm’s revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.53 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.