Calamos Advisors LLC Makes New Investment in CAVA Group, Inc. $CAVA

Calamos Advisors LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 64,102 shares of the company’s stock, valued at approximately $5,186,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bison Wealth LLC acquired a new stake in CAVA Group in the fourth quarter valued at approximately $208,000. Goldman Sachs Group Inc. lifted its stake in shares of CAVA Group by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after purchasing an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CAVA Group by 17.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after purchasing an additional 34,860 shares in the last quarter. Brown Advisory Inc. boosted its holdings in CAVA Group by 9.3% in the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after purchasing an additional 253 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in CAVA Group by 20.3% during the second quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock worth $772,000 after buying an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

CAVA has been the subject of several recent analyst reports. Morgan Stanley upgraded CAVA Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday. Telsey Advisory Group raised their price objective on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. TD Cowen restated a “buy” rating and issued a $100.00 target price on shares of CAVA Group in a report on Thursday, June 4th. Northcoast Research raised CAVA Group to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, Freedom Capital upgraded CAVA Group to a “hold” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.54.

CAVA Group Stock Performance

Shares of CAVA stock opened at $69.72 on Thursday. The firm has a fifty day moving average of $78.52 and a 200-day moving average of $77.06. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 134.08, a P/E/G ratio of 4.80 and a beta of 1.69. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $360.89 million. During the same period in the prior year, the firm posted $0.22 EPS. CAVA Group’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 10,000 shares of CAVA Group stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the transaction, the director directly owned 3,074 shares of the company’s stock, valued at $276,660. The trade was a 76.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the transaction, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 91,747 shares of company stock worth $7,970,838. 6.70% of the stock is owned by company insiders.

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.