CAVA Group, Inc. $CAVA Shares Purchased by Aperture Investors LLC

Key Points

• Aperture Investors LLC increased its stake in CAVA Group by 6.7%, now holding 271,569 shares valued at approximately $23.47 million, making it the firm's 7th largest position.
• CAVA Group reported earnings of $0.16 per share for the last quarter, exceeding estimates, despite revenue of $280.62 million falling short of forecasts of $285.65 million.
• Analysts have set various price targets for CAVA Group's stock, with Citigroup lowering its target from $102 to $88 while TD Securities maintained a "buy" rating with a target of $120.

Aperture Investors LLC raised its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 6.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 271,569 shares of the company's stock after acquiring an additional 17,148 shares during the period. CAVA Group makes up about 3.0% of Aperture Investors LLC's holdings, making the stock its 7th largest position. Aperture Investors LLC owned 0.23% of CAVA Group worth $23,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAVA. First Horizon Advisors Inc. grew its stake in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC bought a new stake in CAVA Group during the first quarter worth $26,000. Dagco Inc. bought a new stake in CAVA Group during the first quarter worth $27,000. Versant Capital Management Inc bought a new stake in CAVA Group during the first quarter worth $31,000. Finally, Brooklyn Investment Group grew its holdings in CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Up 0.8%

NYSE:CAVA opened at $68.29 on Friday. The business's 50-day moving average price is $81.39 and its two-hundred day moving average price is $86.96. CAVA Group, Inc. has a twelve month low of $65.03 and a twelve month high of $172.43. The stock has a market cap of $7.92 billion, a P/E ratio of 57.38, a PEG ratio of 3.39 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company's revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 4,845 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer directly owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. This trade represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Somers sold 2,861 shares of the firm'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 $215,032.76. Following the transaction, the insider owned 137,048 shares in the company, 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 sold a total of 48,360 shares of company stock worth $3,634,738 in the last quarter. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup decreased their price target on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. KeyCorp reduced their price objective on CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. TD Securities restated a "buy" rating and issued a $120.00 price objective on shares of CAVA Group in a research note on Friday, May 16th. Robert W. Baird set a $95.00 price objective on CAVA Group in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price objective on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.47.

CAVA Group Company Profile

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.

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