First Financial Bankshares Inc Purchases New Shares in CAVA Group, Inc. $CAVA

First Financial Bankshares Inc acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,525 shares of the company’s stock, valued at approximately $1,602,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of CAVA Group during the second quarter valued at approximately $463,000. Y Intercept Hong Kong Ltd boosted its position in CAVA Group by 271.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after purchasing an additional 17,294 shares during the last quarter. Hantz Financial Services Inc. grew its stake in CAVA Group by 1,846,775.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after purchasing an additional 73,871 shares during the period. Valeo Financial Advisors LLC bought a new position in CAVA Group in the 2nd quarter valued at $57,824,000. Finally, Renaissance Capital LLC increased its position in shares of CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock valued at $6,387,000 after purchasing an additional 31,651 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

NYSE:CAVA opened at $68.36 on Tuesday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $108.98. The stock’s fifty day moving average price is $64.35 and its two-hundred day moving average price is $61.64. The company has a market cap of $7.93 billion, a P/E ratio of 58.93, a P/E/G ratio of 5.15 and a beta of 2.41.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CAVA shares. Sanford C. Bernstein set a $70.00 price target on shares of CAVA Group in a report on Wednesday, January 7th. Royal Bank Of Canada set a $70.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, February 5th. Citigroup raised their price target on shares of CAVA Group from $60.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Finally, Johnson Rice set a $72.00 price target on shares of CAVA Group in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $82.29.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the sale, the chief financial officer directly owned 231,934 shares in the company, valued at $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the sale, the insider directly owned 332,205 shares in the company, valued at approximately $20,643,218.70. The trade was a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,843 shares of company stock worth $2,764,355 in the last three months. 12.10% of the stock is currently owned by corporate insiders.

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.