Retirement Systems of Alabama Buys 26,870 Shares of CAVA Group, Inc. $CAVA

Retirement Systems of Alabama grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,576 shares of the company’s stock after buying an additional 26,870 shares during the period. Retirement Systems of Alabama owned approximately 0.25% of CAVA Group worth $16,995,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in shares of CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. 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. Finally, 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. Institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the completion of the sale, the insider directly owned 332,205 shares of the company’s stock, valued at $20,643,218.70. This represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $61,767.16. Following the completion of the sale, the insider owned 49,122 shares in the company, valued at $3,052,441.08. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is currently owned by insiders.

CAVA Group Stock Down 0.7%

Shares of CAVA stock opened at $80.36 on Thursday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The firm has a market cap of $9.35 billion, a PE ratio of 148.82, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02. The stock has a 50 day moving average of $74.06 and a 200-day moving average of $64.04.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $268.04 million. During the same quarter last year, the company posted $0.05 earnings per share. CAVA Group’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAVA. KeyCorp boosted their price objective on shares of CAVA Group from $65.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Wolfe Research initiated coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price on the stock. Guggenheim started coverage on shares of CAVA Group in a report on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price on the stock. Barclays boosted their target price on shares of CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Citigroup upped their price target on shares of CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.92.

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.