Calamos Advisors LLC Purchases Shares of 64,102 CAVA Group, Inc. $CAVA

Key Points

• Calamos Advisors LLC bought 64,102 shares of CAVA Group in the first quarter, a stake worth about $5.19 million and equal to roughly 0.06% of the company.
• Insiders have been selling shares: CEO Brett Schulman and insider Theodoros Xenohristos both sold stock in recent months, and insiders sold 91,747 shares total over the last three months, largely tied to tax withholding on equity vesting.
• CAVA reported strong first-quarter results, beating earnings and revenue estimates, while analysts remain generally positive with a Moderate Buy consensus and a target price of $93.54.

Calamos Advisors LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 64,102 shares of the company's stock, valued at approximately $5,186,000. Calamos Advisors LLC owned approximately 0.06% of CAVA Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CAVA. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth about $25,000. Harbor Investment Advisory LLC lifted 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 period. Strategic Investment Solutions Inc. IL acquired a new stake in CAVA Group in the 3rd quarter worth about $36,000. TD Private Client Wealth LLC grew its holdings in CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock valued at $35,000 after buying an additional 325 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in CAVA Group by 115.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company's stock valued at $38,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 9,044 shares of CAVA Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the transaction, the insider directly owned 327,882 shares in the company, valued at approximately $26,148,589.50. This trade represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brett Schulman sold 33,174 shares of CAVA Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $2,966,750.82. Following the transaction, the chief executive officer directly owned 798,669 shares in the company, valued at approximately $71,424,968.67. The trade was a 3.99% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 91,747 shares of company stock worth $7,970,838. 6.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CAVA shares. Piper Sandler raised their target price on shares of CAVA Group from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Robert W. Baird lifted their price target on shares of CAVA Group from $88.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, May 20th. Mizuho boosted their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Roth Capital restated a "buy" rating and set a $106.00 price objective on shares of CAVA Group in a report on Wednesday, May 20th. Finally, Morgan Stanley raised CAVA Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.54.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $69.72 on Thursday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The firm's 50-day simple moving average is $78.52 and its 200-day simple moving average is $77.06. The firm has a market cap of $8.12 billion, a PE ratio of 134.08, a price-to-earnings-growth ratio of 4.80 and a beta of 1.69.

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

About CAVA Group

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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