Amundi Acquires 474,771 Shares of CAVA Group, Inc. $CAVA

Key Points

• Amundi's Investment Surge: Amundi increased its stake in CAVA Group, Inc. by an impressive 1,084.8% in Q1, holding 518,535 shares valued at approximately $43.65 million.
• Insider Transactions: Insiders, including CEO Brett Schulman, sold a significant amount of shares recently, reducing their positions by 3.87% and 0.87%, respectively.
• Analyst Price Adjustments: Analysts have varied target price adjustments for CAVA Group, with a consensus rating of "Moderate Buy" and an average target price of $96.41.

Amundi boosted its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 1,084.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 518,535 shares of the company's stock after buying an additional 474,771 shares during the period. Amundi owned approximately 0.45% of CAVA Group worth $43,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock valued at $783,374,000 after buying an additional 1,054,180 shares during the period. Jennison Associates LLC raised its holdings in shares of CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock valued at $736,166,000 after purchasing an additional 6,057,727 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of CAVA Group by 114.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after purchasing an additional 1,277,912 shares during the period. Man Group plc raised its holdings in shares of CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock valued at $105,476,000 after purchasing an additional 794,187 shares during the period. Finally, Nuveen LLC acquired a new position in shares of CAVA Group during the first quarter valued at about $72,800,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Activity

In other news, insider Theodoros Xenohristos sold 3,062 shares of the 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 $230,139.92. Following the completion of the transaction, the insider directly owned 350,209 shares of the company's stock, valued at $26,321,708.44. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 31,856 shares of the 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 $2,394,296.96. Following the transaction, the chief executive officer directly owned 792,318 shares of the company's stock, valued at $59,550,620.88. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,360 shares of company stock worth $3,634,738. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $95.00 price objective on shares of CAVA Group in a report on Wednesday, August 13th. Barclays dropped their price objective on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Citigroup lowered their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Finally, Piper Sandler lowered their target price on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $96.41.

CAVA Group Stock Down 1.2%

CAVA stock traded down $0.80 during trading on Thursday, reaching $64.36. The stock had a trading volume of 3,353,673 shares, compared to its average volume of 3,823,491. CAVA Group, Inc. has a one year low of $63.70 and a one year high of $172.43. The company's 50 day moving average is $79.22 and its two-hundred day moving average is $83.24. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 54.07, a P/E/G ratio of 3.26 and a beta of 2.61.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The business had revenue of $280.62 million during the quarter, compared to the consensus estimate of $285.65 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, research analysts predict 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.