Perbak Capital Partners LLP Has $1.34 Million Holdings in CAVA Group, Inc. $CAVA

Perbak Capital Partners LLP lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 171.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,215 shares of the company’s stock after acquiring an additional 14,026 shares during the period. Perbak Capital Partners LLP’s holdings in CAVA Group were worth $1,342,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAVA. Cornerstone Planning Group LLC lifted its holdings in CAVA Group by 378.7% in the 3rd 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 boosted its position in CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 440 shares during the period. Western Pacific Wealth Management LP acquired a new position in CAVA Group during the third quarter valued at approximately $33,000. CNB Bank grew its holdings in CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 422 shares during the last quarter. Finally, Knuff & Co LLC bought a new position in shares of CAVA Group in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Up 2.1%

CAVA opened at $82.03 on Friday. The business has a 50 day moving average of $70.41 and a 200-day moving average of $62.51. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 151.91, a P/E/G ratio of 6.91 and a beta of 2.16. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $101.50.

CAVA Group (NYSE:CAVA) last announced its 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. The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. CAVA Group’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAVA shares. Morgan Stanley boosted their price objective on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. KeyCorp lifted their target price on shares of CAVA Group from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. Argus restated a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Finally, Piper Sandler raised their price target on CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.04.

Insider Buying and Selling

In other news, insider Kenneth Robert Bertram sold 994 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $61,767.16. Following the transaction, the insider owned 49,122 shares in the company, valued at approximately $3,052,441.08. The trade was a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 4,542 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the transaction, the chief executive officer directly owned 802,783 shares of the company’s stock, valued at $49,884,935.62. This represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 39,055 shares of company stock worth $2,572,303. 6.80% 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.