Dupree Financial Group LLC Buys New Position in CAVA Group, Inc. (NYSE:CAVA)

Dupree Financial Group LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,509 shares of the company's stock, valued at approximately $1,772,000.

Several other institutional investors have also recently made changes to their positions in CAVA. First Horizon Advisors Inc. increased its stake in CAVA Group by 1,400.0% in the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the last quarter. Larson Financial Group LLC increased its stake in CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Versant Capital Management Inc bought a new stake in CAVA Group in the 1st quarter worth approximately $31,000. Whittier Trust Co. increased its position in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

Shares of CAVA stock traded up $2.30 during mid-day trading on Wednesday, hitting $89.87. The stock had a trading volume of 4,198,731 shares, compared to its average volume of 3,239,958. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The firm has a market capitalization of $10.39 billion, a P/E ratio of 74.89, a price-to-earnings-growth ratio of 4.11 and a beta of 2.65. The firm's 50-day moving average is $84.51 and its two-hundred day moving average is $97.20.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The business had revenue of $331.83 million during the quarter, compared to analysts' expectations of $327.98 million. During the same period in the prior year, the business earned $0.12 EPS. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAVA. JPMorgan Chase & Co. cut their target price on CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Sanford C. Bernstein raised CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a research report on Wednesday, April 23rd. KeyCorp began coverage on CAVA Group in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $100.00 target price on the stock. Robert W. Baird boosted their target price on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, TD Securities reissued a "buy" rating and set a $120.00 target price on shares of CAVA Group in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $117.82.

Insider Activity

In related news, CEO Brett Schulman sold 31,856 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the sale, the chief executive officer directly owned 792,318 shares in the company, valued at $59,550,620.88. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Somers sold 2,861 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the sale, the insider owned 137,048 shares of the company's stock, valued at $10,300,527.68. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,951 shares of company stock worth $5,409,027 over the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.