CAVA Group, Inc. $CAVA Holdings Raised by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 123.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,126 shares of the company’s stock after buying an additional 41,986 shares during the period. Quantinno Capital Management LP owned about 0.07% of CAVA Group worth $6,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after acquiring an additional 1,805,174 shares in the last quarter. Marshall Wace LLP grew its stake in CAVA Group by 689.8% in the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock valued at $81,448,000 after purchasing an additional 1,212,068 shares in the last quarter. Primecap Management Co. CA increased its position in CAVA Group by 1,378.3% in the 4th quarter. Primecap Management Co. CA now owns 1,260,250 shares of the company’s stock worth $73,964,000 after purchasing an additional 1,175,000 shares during the last quarter. Norges Bank acquired a new position in CAVA Group in the 4th quarter worth about $50,278,000. Finally, Morgan Stanley raised its stake in shares of CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after purchasing an additional 835,628 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAVA. Argus set a $92.00 price target on CAVA Group in a report on Friday, May 22nd. KeyCorp increased their price objective on CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Wolfe Research set a $95.00 target price on shares of CAVA Group in a research note on Tuesday, June 30th. Finally, TD Cowen reissued a “buy” rating and issued a $100.00 target price on shares of CAVA Group in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $93.04.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 9,044 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $79.75, for a total value of $721,259.00. Following the completion of the sale, the insider directly owned 327,882 shares in the company, valued at approximately $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a 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, CEO Brett Schulman sold 33,174 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the sale, the chief executive officer directly owned 798,669 shares of the company’s stock, valued at approximately $71,424,968.67. This represents a 3.99% 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. 6.70% of the stock is owned by corporate insiders.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $66.13 on Thursday. The stock has a market capitalization of $7.70 billion, a P/E ratio of 127.18, a P/E/G ratio of 4.36 and a beta of 1.74. The business has a 50-day moving average of $74.17 and a two-hundred day moving average of $77.03. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.

CAVA Group (NYSE:CAVA) last posted its 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. The firm had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. As a group, research analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.

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.