41,779 Shares in CAVA Group, Inc. $CAVA Acquired by Trillium Asset Management LLC

Key Points

• Trillium Asset Management acquired 41,779 CAVA shares worth approximately $3.28 million in the second quarter. Institutional investors collectively own 73.15% of the company.
• CAVA reported quarterly revenue of $368.44 million, up 31.3% year over year, and adjusted earnings of $0.19 per share, topping estimates of $0.18.
• Analyst sentiment remains a “Moderate Buy”, with 17 Buy ratings and nine Holds and a consensus price target of $89.44, although some firms recently lowered their targets.

Trillium Asset Management LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,779 shares of the company's stock, valued at approximately $3,279,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bison Wealth LLC acquired a new position in shares of CAVA Group in the 4th quarter valued at $208,000. Goldman Sachs Group Inc. boosted its position 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 worth $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 grew its stake in shares of CAVA Group by 17.3% during 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 during the period. Brown Advisory Inc. grew its stake in shares of 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 period. Finally, Cresset Asset Management LLC increased its holdings in CAVA Group by 20.3% in the second quarter. Cresset Asset Management LLC now owns 9,165 shares of the company's stock valued at $772,000 after purchasing an additional 1,549 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 3,252 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $290,826.36. Following the sale, the insider directly owned 324,630 shares in the company, valued at approximately $29,031,660.90. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the transaction, the insider directly owned 98,490 shares in the company, valued at approximately $8,864,100. The trade was a 11.25% decrease in their position. 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. Insiders sold 67,512 shares of company stock worth $6,050,417 in the last three months. 6.70% of the stock is owned by corporate insiders.

CAVA Group Trading Up 1.0%

Shares of CAVA Group stock opened at $72.28 on Friday. The stock's fifty day simple moving average is $72.34 and its 200 day simple moving average is $77.19. The company has a market capitalization of $8.44 billion, a PE ratio of 131.42, a PEG ratio of 4.93 and a beta of 1.74. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The firm had revenue of $368.44 million during the quarter, compared to analysts' expectations of $360.09 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The company's revenue was up 31.3% on a year-over-year basis. Analysts predict that CAVA Group, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

CAVA has been the topic of several analyst reports. TD Cowen cut their target price on CAVA Group from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. JPMorgan Chase & Co. boosted their target price on CAVA Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Argus set a $92.00 price target on shares of CAVA Group in a research report on Friday, May 22nd. Mizuho cut their price target on shares of CAVA Group from $85.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus lifted their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $89.44.

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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