Assetmark Inc. Grows Position in CAVA Group, Inc. $CAVA

Key Points

• Assetmark Inc. boosted its Q4 holding in CAVA by 43.3% to 140,469 shares (about 0.12% of the company) worth $8.24M, and institutional investors collectively own roughly 73.15% of the stock.
• Multiple analysts have lifted targets recently (Barclays to $70, Truist to $85, Goldman to $86, Telsey to $88), giving CAVA an average price target of $86.62 and a consensus rating of Moderate Buy.
• Insiders sold 39,055 shares over the last quarter (including CEO Brett Schulman’s sale of 4,542 shares), while CAVA posted a small EPS beat ($0.04 vs. $0.03) and revenue growth of 20.9% year-over-year.

Assetmark Inc. boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 43.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,469 shares of the company's stock after purchasing an additional 42,445 shares during the quarter. Assetmark Inc. owned about 0.12% of CAVA Group worth $8,244,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CAVA. Cornerstone Planning Group LLC raised its stake in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock valued at $27,000 after purchasing an additional 356 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. Toth Financial Advisory Corp raised its stake in CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company's stock valued at $31,000 after purchasing an additional 440 shares in the last quarter. Western Pacific Wealth Management LP purchased a new stake in CAVA Group during the third quarter valued at $33,000. Finally, CNB Bank raised its stake in CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company's stock valued at $35,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CAVA. Barclays raised their price target on shares of CAVA Group from $52.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 7th. Truist Financial raised their price target on shares of CAVA Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. The Goldman Sachs Group increased their target price on shares of CAVA Group from $75.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. Telsey Advisory Group increased their target price on shares of CAVA Group from $85.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of CAVA Group from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.62.

Insider Activity

In related news, CEO Brett Schulman sold 4,542 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $282,239.88. Following the completion of the sale, the chief executive officer directly owned 802,783 shares of the company's stock, valued at $49,884,935.62. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Robert Bertram sold 994 shares of the firm's stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $61,767.16. Following the completion of the sale, the insider directly owned 49,122 shares of the company's stock, valued at approximately $3,052,441.08. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 39,055 shares of company stock valued at $2,572,303. 6.80% of the stock is currently owned by company insiders.

CAVA Group Stock Up 3.9%

Shares of CAVA opened at $94.80 on Friday. The firm's fifty day moving average is $79.34 and its two-hundred day moving average is $65.93. The stock has a market cap of $11.03 billion, a PE ratio of 175.55, a price-to-earnings-growth ratio of 7.74 and a beta of 2.03. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $101.50.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 business had revenue of $274.99 million for the quarter, compared to analysts' expectations of $268.04 million. During the same period last year, the firm earned $0.05 earnings per share. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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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