CAVA Group, Inc. $CAVA Shares Bought by Capital International Investors

Key Points

• Capital International Investors more than doubled its stake in CAVA in Q3, increasing holdings by 105.4% to 4,228,736 shares — a 3.65% position valued at about $255.45 million.
• CAVA beat expectations in its most recent quarter with EPS of $0.04 (vs. $0.03 est.) and revenue of $274.99 million, up 20.9% year-over-year; analysts have a consensus target of $84.04 and an average rating of "Moderate Buy."

Capital International Investors lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 105.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,228,736 shares of the company's stock after acquiring an additional 2,169,553 shares during the quarter. Capital International Investors owned 3.65% of CAVA Group worth $255,451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its holdings in shares of 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 during the last quarter. Atlantic Union Bankshares Corp purchased a new position in CAVA Group in the 2nd quarter worth about $31,000. Toth Financial Advisory Corp increased its stake in CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company's stock worth $31,000 after purchasing an additional 440 shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in CAVA Group during the 3rd quarter worth about $33,000. Finally, CNB Bank raised its holdings in CAVA Group by 275.8% during the 3rd quarter. CNB Bank now owns 575 shares of the company's stock worth $35,000 after buying an additional 422 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA Group stock opened at $80.60 on Thursday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $101.50. The firm has a market cap of $9.38 billion, a PE ratio of 149.26, a P/E/G ratio of 6.89 and a beta of 2.16. The firm's 50 day moving average price is $69.54 and its two-hundred day moving average price is $62.27.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same quarter last year, the business posted $0.05 EPS. The company's revenue for the quarter was up 20.9% on a year-over-year basis. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of CAVA Group from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Piper Sandler upped their price target on shares of CAVA Group from $71.00 to $85.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. UBS Group raised their price objective on shares of CAVA Group from $69.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Johnson Rice set a $72.00 price objective on shares of CAVA Group in a research report on Monday, January 5th. Finally, TD Cowen boosted their target price on shares of CAVA Group from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of "Moderate Buy" and a consensus target price of $84.04.

Insider Buying and Selling at CAVA Group

In related news, insider Kenneth Robert Bertram sold 994 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 $61,767.16. Following the completion of the sale, the insider directly owned 49,122 shares in the company, valued at approximately $3,052,441.08. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the sale, the insider directly owned 332,205 shares of the company's stock, valued at approximately $20,643,218.70. The trade was a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 39,055 shares of company stock valued at $2,572,303 in the last quarter. Corporate insiders own 6.80% of the company's stock.

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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