Jones Financial Companies Lllp Raises Holdings in CAVA Group, Inc. $CAVA

Key Points

• Jones Financial Companies Lllp significantly increased its stake in CAVA Group, boosting ownership by 1,785.1% to hold 67,843 shares valued at approximately $5.86 million.
• CAVA Group has attracted interest from multiple hedge funds, with entities like Jennison Associates LLC and Vanguard Group increasing their stakes by 246.1% and 13.2% respectively during the first quarter.
• Analysts have lowered price targets for CAVA Group, with UBS Group setting a new target of $75.00, and the stock currently has an average rating of "Moderate Buy" with a consensus target price of $96.41.

Jones Financial Companies Lllp grew its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 1,785.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 67,843 shares of the company's stock after buying an additional 64,244 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.06% of CAVA Group worth $5,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scientech Research LLC increased its position in CAVA Group by 5.1% during the 1st quarter. Scientech Research LLC now owns 12,071 shares of the company's stock valued at $1,043,000 after buying an additional 586 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of CAVA Group by 12.3% in the 1st quarter. NewEdge Advisors LLC now owns 17,590 shares of the company's stock worth $1,520,000 after buying an additional 1,924 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of CAVA Group by 36.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,139 shares of the company's stock worth $790,000 after buying an additional 2,461 shares during the last quarter. Interval Partners LP lifted its position in CAVA Group by 604.1% during the first quarter. Interval Partners LP now owns 176,029 shares of the company's stock valued at $15,211,000 after purchasing an additional 151,029 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in CAVA Group by 2,072.1% during the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company's stock valued at $73,681,000 after purchasing an additional 813,434 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Wall Street Analyst Weigh In

CAVA has been the topic of several research analyst reports. Bank of America lowered their price objective on CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Argus set a $76.00 target price on CAVA Group in a research note on Tuesday, September 2nd. KeyCorp lowered their price target on CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. Wall Street Zen lowered CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Cfra Research upgraded CAVA Group to a "strong-buy" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and an average price target of $96.41.

Insider Transactions at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 739 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the completion of the transaction, the chief accounting officer owned 11,063 shares in the company, valued at $831,495.08. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 4,845 shares of the business's stock in a transaction on 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 owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,360 shares of company stock worth $3,634,738 in the last three months. Company insiders own 6.80% of the company's stock.

CAVA Group Price Performance

CAVA Group stock traded down $0.58 during midday trading on Friday, reaching $63.74. The company had a trading volume of 3,304,620 shares, compared to its average volume of 3,460,056. The company has a market capitalization of $7.39 billion, a P/E ratio of 53.56, a P/E/G ratio of 3.22 and a beta of 2.61. CAVA Group, Inc. has a 12-month low of $63.17 and a 12-month high of $172.43. The firm's fifty day simple moving average is $78.31 and its 200-day simple moving average is $82.61.

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

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.