Amalgamated Bank Raises Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Amalgamated Bank boosted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 671.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,854 shares of the company's stock after purchasing an additional 33,818 shares during the period. Amalgamated Bank's holdings in CAVA Group were worth $3,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the period. Man Group plc grew its position in shares of CAVA Group by 563.7% in the 4th quarter. Man Group plc now owns 935,075 shares of the company's stock worth $105,476,000 after buying an additional 794,187 shares during the last quarter. Barclays PLC increased its stake in shares of CAVA Group by 116.7% during the fourth quarter. Barclays PLC now owns 84,755 shares of the company's stock valued at $9,560,000 after buying an additional 591,866 shares during the period. Norges Bank bought a new position in shares of CAVA Group during the fourth quarter valued at approximately $64,538,000. Finally, Raymond James Financial Inc. bought a new position in shares of CAVA Group during the fourth quarter valued at approximately $59,516,000. Institutional investors own 73.15% of the company's stock.

CAVA Group Stock Up 5.1%

Shares of NYSE:CAVA traded up $4.23 during midday trading on Friday, reaching $86.94. The company's stock had a trading volume of 4,952,461 shares, compared to its average volume of 3,227,266. The firm has a market capitalization of $10.06 billion, a PE ratio of 72.45, a P/E/G ratio of 4.06 and a beta of 2.65. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The stock has a fifty day moving average of $84.82 and a 200 day moving average of $97.70.

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

Insider Activity at CAVA Group

In related news, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the transaction, the insider owned 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 4,845 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the completion of the transaction, the chief financial officer owned 236,345 shares of the company's stock, valued at $17,763,690.20. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,951 shares of company stock valued at $5,409,027 over the last ninety days. Corporate insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several research analyst reports. Robert W. Baird raised their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. KeyCorp initiated coverage on shares of CAVA Group in a report on Wednesday. They issued an "overweight" rating and a $100.00 price objective for the company. UBS Group lowered their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Barclays lowered their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CAVA Group currently has an average rating of "Moderate Buy" and an average price target of $117.82.

About CAVA Group

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.