MFG Wealth Management Inc. Makes New $1.44 Million Investment in CAVA Group, Inc. $CAVA

MFG Wealth Management Inc. purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,534 shares of the company’s stock, valued at approximately $1,440,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CAVA. Capital International Investors lifted its stake in shares of CAVA Group by 105.4% in the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after acquiring an additional 2,169,553 shares during the period. William Blair Investment Management LLC acquired a new stake in CAVA Group during the 3rd quarter valued at approximately $114,098,000. Alliancebernstein L.P. lifted its position in shares of CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after purchasing an additional 1,600,630 shares during the period. Capital Research Global Investors boosted its stake in shares of CAVA Group by 28.5% in the 3rd quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock valued at $400,801,000 after purchasing an additional 1,469,758 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of CAVA Group by 58.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,146,502 shares of the company’s stock valued at $129,670,000 after purchasing an additional 794,547 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the firm’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 value of $64,563.46. Following the completion of the sale, the insider owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kelly Costanza sold 1,707 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the sale, the insider owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 over the last three months. Insiders own 6.80% of the company’s stock.

CAVA Group Trading Down 3.8%

NYSE:CAVA opened at $84.29 on Friday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 156.09, a PEG ratio of 7.47 and a beta of 2.16. The firm has a fifty day simple moving average of $72.41 and a two-hundred day simple moving average of $63.21.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm 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%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. Equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. UBS Group increased their price target on CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Royal Bank Of Canada lifted their price objective on CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Barclays upped their target price on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.04.

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.