CAVA Group, Inc. (NYSE:CAVA) Shares Bought by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC significantly increased its holdings in CAVA Group, raising its position by 206.3% to 12,877 shares valued at approximately $1.11 million.
• Several other institutional investors also expanded their positions in CAVA Group, with hedge funds collectively owning 73.15% of the company's stock.
• CAVA Group recently reported a quarterly earnings per share (EPS) of $0.22, surpassing analysts' expectations and reflecting a 28.1% year-over-year revenue increase to $331.83 million.

Blueshift Asset Management LLC boosted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 206.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,877 shares of the company's stock after purchasing an additional 8,673 shares during the period. Blueshift Asset Management LLC's holdings in CAVA Group were worth $1,113,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CAVA. Moors & Cabot Inc. bought a new stake in shares of CAVA Group in the 1st quarter valued at $236,000. Jefferies Financial Group Inc. raised its holdings in shares of CAVA Group by 69.7% during the first quarter. Jefferies Financial Group Inc. now owns 18,323 shares of the company's stock valued at $1,583,000 after purchasing an additional 7,528 shares during the period. US Bancorp DE boosted its position in shares of CAVA Group by 103.3% during the 1st quarter. US Bancorp DE now owns 3,846 shares of the company's stock worth $332,000 after purchasing an additional 1,954 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of CAVA Group by 77.2% in the 1st quarter. Harbour Investments Inc. now owns 895 shares of the company's stock valued at $77,000 after buying an additional 390 shares during the period. Finally, Dearborn Partners LLC increased its position in CAVA Group by 10.4% in the 1st quarter. Dearborn Partners LLC now owns 2,449 shares of the company's stock valued at $212,000 after buying an additional 230 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Price Performance

Shares of CAVA stock traded down $3.67 during trading hours on Friday, hitting $84.34. The stock had a trading volume of 2,105,451 shares, compared to its average volume of 3,329,611. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 70.28, a PEG ratio of 4.21 and a beta of 2.65. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The stock's 50-day moving average price is $82.85 and its two-hundred day moving average price is $93.82.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $331.83 million for the quarter, compared to analysts' expectations of $327.98 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business's revenue was up 28.1% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp initiated coverage on CAVA Group in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 price target on the stock. Robert W. Baird lifted their price target on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. decreased their price objective on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Bank of America increased their price objective on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Melius assumed coverage on CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.06.

Insider Buying and Selling

In related news, CFO Tricia K. Tolivar sold 4,845 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $364,150.20. Following the completion of the sale, the chief financial officer owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the transaction, the insider directly owned 353,271 shares in the company, valued at $33,518,352.48. The trade was a 2.58% decrease in their position. 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 over the last ninety days. Corporate insiders own 6.80% of the company's stock.

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.