BNP Paribas Financial Markets Has $25.64 Million Stock Holdings in CAVA Group, Inc. $CAVA

Key Points

• BNP Paribas Financial Markets increased its CAVA stake by 36.5% in the fourth quarter, bringing its holdings to 436,927 shares valued at about $25.64 million.
• CAVA reported better-than-expected quarterly results, with EPS of $0.20 versus $0.17 expected and revenue of $438.27 million, up 32.1% year over year.
• Analysts remain generally constructive on the stock, with an average Moderate Buy rating and a consensus price target of $93.19, even as several insiders recently sold shares.

BNP Paribas Financial Markets lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 36.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,927 shares of the company's stock after purchasing an additional 116,783 shares during the period. BNP Paribas Financial Markets owned 0.38% of CAVA Group worth $25,643,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its stake in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock worth $30,000 after purchasing an additional 400 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock worth $35,000 after purchasing an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of CAVA Group during the 3rd quarter worth about $36,000. Finally, Allworth Financial LP increased its stake in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company's stock worth $38,000 after purchasing an additional 237 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Argus set a $92.00 price objective on shares of CAVA Group in a research note on Friday, May 22nd. BMO Capital Markets set a $100.00 price target on shares of CAVA Group in a research note on Wednesday, May 20th. Telsey Advisory Group upped their price target on shares of CAVA Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, May 20th. Roth Mkm reiterated a "buy" rating and issued a $106.00 price target on shares of CAVA Group in a research note on Wednesday, May 20th. Finally, DA Davidson upped their price target on shares of CAVA Group from $80.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.19.

CAVA Group Stock Up 1.1%

Shares of NYSE:CAVA opened at $72.14 on Friday. The company's 50 day moving average price is $83.31 and its two-hundred day moving average price is $71.60. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The firm has a market cap of $8.40 billion, a PE ratio of 138.74, a PEG ratio of 4.89 and a beta of 1.70.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business's revenue was up 32.1% compared to the same quarter last year. On average, research analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 5,181 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the transaction, the chief accounting officer owned 9,505 shares in the company, valued at $733,215.70. This represents a 35.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kelly Costanza sold 10,010 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.87, for a total transaction of $799,498.70. Following the transaction, the insider owned 113,850 shares in the company, valued at approximately $9,093,199.50. The trade was a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 24,235 shares of company stock worth $1,920,420 in the last quarter. Corporate insiders own 6.70% of the company's stock.

CAVA Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.