Wesbanco Bank Inc. Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Wesbanco Bank Inc. bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,000 shares of the company's stock, valued at approximately $1,987,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Utah Retirement Systems boosted its stake in shares of CAVA Group by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after buying an additional 100 shares during the last quarter. Whittier Trust Co. lifted its position in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after acquiring an additional 127 shares in the last quarter. Mainstream Capital Management LLC lifted its position in CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after buying an additional 132 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in CAVA Group by 1.9% during the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock worth $713,000 after buying an additional 150 shares in the last quarter. Finally, Centurion Wealth Management LLC increased its stake in CAVA Group by 8.8% during the fourth quarter. Centurion Wealth Management LLC now owns 1,913 shares of the company's stock worth $216,000 after acquiring an additional 154 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CAVA. Citigroup boosted their target price on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. 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 note on Wednesday, April 23rd. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.00.

Insider Buying and Selling at CAVA Group

In other news, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares of the company's stock, valued at $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company's stock.

CAVA Group Trading Down 4.6%

NYSE:CAVA traded down $3.60 during mid-day trading on Friday, hitting $74.65. The company's stock had a trading volume of 4,976,417 shares, compared to its average volume of 3,105,952. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 162.28 and a beta of 2.77. The stock has a fifty day moving average of $87.44 and a 200-day moving average of $103.81. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company's revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.