6,994 Shares in CAVA Group, Inc. $CAVA Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 1st quarter, Holdings Channel reports. The firm bought 6,994 shares of the company’s stock, valued at approximately $566,000.

Several other hedge funds have also bought and sold shares of CAVA. Los Angeles Capital Management LLC purchased a new stake in CAVA Group in the fourth quarter worth about $25,000. Harbor Investment Advisory LLC lifted its position in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 400 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after buying an additional 325 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of CAVA Group during the 3rd quarter valued at approximately $36,000. Finally, Allworth Financial LP grew its stake in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after acquiring an additional 237 shares during the period. Institutional investors own 73.15% of the company’s stock.

Insider Activity

In related news, insider Kelly Costanza sold 12,490 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the transaction, the insider owned 98,490 shares in the company, valued at approximately $8,864,100. This represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 757 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $67,698.51. Following the transaction, the chief accounting officer directly owned 6,848 shares of the company’s stock, valued at $612,416.64. The trade was a 9.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 91,747 shares of company stock valued at $7,970,838. Company insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CAVA. Northcoast Research upgraded shares of CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. BNP Paribas Exane assumed coverage on shares of CAVA Group in a research report on Monday, March 30th. They issued a “neutral” rating and a $91.00 price target for the company. Guggenheim assumed coverage on shares of CAVA Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price objective for the company. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.44.

CAVA Group Trading Down 0.2%

Shares of CAVA opened at $76.74 on Friday. The business’s 50 day moving average is $82.04 and its 200 day moving average is $76.16. The company has a market capitalization of $8.94 billion, a PE ratio of 147.57, a price-to-earnings-growth ratio of 5.27 and a beta of 1.69. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The business had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

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.