Baldwin Investment Management LLC Purchases New Position in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Baldwin Investment Management LLC has acquired a new stake in CAVA Group, Inc., purchasing 4,025 shares valued at approximately $348,000 during the first quarter.
• Insights into CAVA Group's financial performance reveal a 28.1% increase in revenue year-over-year, with Q1 earnings per share beating analyst expectations at $0.22 compared to a consensus of $0.14.
• Recent analyst activity shows mixed ratings for CAVA Group, with one firm downgrading the stock to a sell, while others maintain buy ratings and price targets as high as $121.00.

Baldwin Investment Management LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,025 shares of the company's stock, valued at approximately $348,000.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of CAVA Group by 91.6% during the 4th quarter. American Century Companies Inc. now owns 80,241 shares of the company's stock worth $9,051,000 after acquiring an additional 38,363 shares in the last quarter. Sei Investments Co. boosted its stake in CAVA Group by 131.3% during the 4th quarter. Sei Investments Co. now owns 58,928 shares of the company's stock valued at $6,647,000 after purchasing an additional 33,451 shares during the period. LPL Financial LLC boosted its stake in CAVA Group by 24.7% during the 4th quarter. LPL Financial LLC now owns 145,130 shares of the company's stock valued at $16,371,000 after purchasing an additional 28,787 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in CAVA Group by 27.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 56,206 shares of the company's stock valued at $6,468,000 after purchasing an additional 12,200 shares during the period. Finally, Norges Bank bought a new stake in CAVA Group during the 4th quarter valued at approximately $64,538,000. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Performance

Shares of CAVA Group stock traded down $4.05 during mid-day trading on Friday, hitting $83.96. 1,289,794 shares of the stock were exchanged, compared to its average volume of 3,493,323. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The company has a 50-day simple moving average of $82.75 and a 200 day simple moving average of $94.48. The company has a market capitalization of $9.71 billion, a P/E ratio of 69.83, a P/E/G ratio of 4.51 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm had revenue of $331.83 million for the quarter, compared to analysts' expectations of $327.98 million. During the same quarter last year, the firm earned $0.12 EPS. The company's quarterly revenue was up 28.1% compared to the same quarter last year. Analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In related news, CAO Adam David Phillips sold 739 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the sale, the chief accounting officer directly owned 11,063 shares in the company, valued at approximately $831,495.08. The trade was a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Somers sold 2,861 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the transaction, the insider directly owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock worth $5,409,027 in the last three months. Insiders own 6.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAVA. Melius initiated coverage on CAVA Group in a report on Monday, July 14th. They issued a "hold" rating and a $95.00 target price for the company. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a research report on Wednesday, April 23rd. KeyCorp initiated coverage on CAVA Group in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, Bank of America raised their price target on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $115.06.

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.