Capital Research Global Investors Grows Position in CAVA Group, Inc. $CAVA

Capital Research Global Investors grew its position in CAVA Group, Inc. (NYSE:CAVA) by 28.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,634,866 shares of the company’s stock after purchasing an additional 1,469,758 shares during the period. Capital Research Global Investors owned approximately 5.72% of CAVA Group worth $400,801,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quadcap Wealth Management LLC increased its position in shares of CAVA Group by 1.4% in the second quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock worth $755,000 after acquiring an additional 124 shares in the last quarter. McDonough Capital Management Inc boosted its position in CAVA Group by 4.7% during the 2nd quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock worth $245,000 after purchasing an additional 131 shares during the period. Baltimore Washington Financial Advisors Inc. increased its holdings in CAVA Group by 5.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock valued at $237,000 after purchasing an additional 150 shares in the last quarter. ProShare Advisors LLC raised its position in CAVA Group by 5.1% in the second quarter. ProShare Advisors LLC now owns 3,640 shares of the company’s stock valued at $307,000 after purchasing an additional 177 shares during the period. Finally, Nautilus Advisors LLC lifted its stake in shares of CAVA Group by 7.5% during the second quarter. Nautilus Advisors LLC now owns 2,673 shares of the company’s stock worth $225,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group raised their target price on CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Telsey Advisory Group lifted their price objective on shares of CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Piper Sandler raised their price target on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Johnson Rice set a $72.00 price target on shares of CAVA Group in a research note on Monday, January 5th. Finally, Sanford C. Bernstein upped their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.04.

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 21,650 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $1,459,426.50. Following the sale, the chief executive officer directly owned 807,325 shares in the company, valued at approximately $54,421,778.25. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kenneth Robert Bertram sold 1,074 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the transaction, the insider directly owned 50,116 shares of the company’s stock, valued at $3,378,319.56. This represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 39,055 shares of company stock valued at $2,572,303. 12.10% of the stock is owned by corporate insiders.

CAVA Group Stock Down 2.1%

Shares of NYSE CAVA opened at $80.08 on Wednesday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The business has a fifty day simple moving average of $69.10 and a 200-day simple moving average of $62.14. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 148.31, a P/E/G ratio of 7.04 and a beta of 2.16.

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