331,568 Shares in CAVA Group, Inc. $CAVA Bought by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services bought a new position of 331,568 CAVA shares in Q4, valued at about $19.46 million, representing roughly 0.29% of the company; institutional investors now own about 73.15% of CAVA.
• Wall Street sentiment is broadly positive with an average rating of "Moderate Buy" and an average target price of $86.62, as several brokers raised price targets (KeyCorp to $95, Truist to $85).
• CAVA recently reported a slight EPS beat ($0.04 vs. $0.03) and 20.9% year-over-year revenue growth for the quarter; the stock trades around $91 with a market cap of $10.6 billion and a high P/E of 168.63.

Massachusetts Financial Services Co. MA bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 331,568 shares of the company's stock, valued at approximately $19,460,000. Massachusetts Financial Services Co. MA owned about 0.29% of CAVA Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. DMC Group LLC boosted its holdings in CAVA Group by 3.7% during the fourth quarter. DMC Group LLC now owns 4,426 shares of the company's stock worth $260,000 after purchasing an additional 157 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in CAVA Group by 6.0% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 3,852 shares of the company's stock worth $233,000 after purchasing an additional 219 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in CAVA Group by 23.5% during the third quarter. Clearstead Advisors LLC now owns 1,325 shares of the company's stock worth $80,000 after purchasing an additional 252 shares during the last quarter. Brown Advisory Inc. boosted its holdings in CAVA Group by 9.3% during 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 during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its holdings in CAVA Group by 8.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 4,292 shares of the company's stock worth $259,000 after purchasing an additional 327 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAVA. Truist Financial increased their target price on shares of CAVA Group from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. KeyCorp increased their target price on shares of CAVA Group from $65.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Mizuho increased their price target on shares of CAVA Group from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Barclays lifted their price objective on shares of CAVA Group from $52.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 7th. Finally, Sanford C. Bernstein lifted their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the company an "outperform" rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.62.

CAVA Group Trading Up 3.0%

Shares of NYSE CAVA opened at $91.06 on Friday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The stock has a 50 day moving average of $78.85 and a 200-day moving average of $65.68. The company has a market capitalization of $10.60 billion, a P/E ratio of 168.63, a P/E/G ratio of 7.51 and a beta of 2.03.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. During the same period in the previous year, the company posted $0.05 EPS. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 994 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $61,767.16. Following the transaction, the insider directly owned 49,122 shares of the company's stock, valued at $3,052,441.08. This represents a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Adam David Phillips sold 774 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the completion of the transaction, the chief accounting officer directly owned 10,435 shares in the company, valued at approximately $648,430.90. This represents a 6.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,055 shares of company stock worth $2,572,303 in the last quarter. 6.80% of the stock is owned by corporate insiders.

CAVA Group Company 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.

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