Graham Capital Management L.P. Has $4.75 Million Stake in CAVA Group, Inc. $CAVA

Key Points

• Graham Capital Management L.P. increased its stake in CAVA Group, Inc. by 119.8% during the 1st quarter, owning a total of 54,988 shares valued at approximately $4.75 million as per its latest SEC filing.
• Vanguard Group and Jennison Associates also significantly boosted their holdings in CAVA, with Jennison increasing its stake by 246.1%, resulting in ownership of 8,519,459 shares valued at $736.17 million.
• Analysts have adjusted their price targets for CAVA Group, with Bank of America reducing its target from $121 to $100 while maintaining a "buy" rating for the stock.

Graham Capital Management L.P. increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 119.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,988 shares of the company's stock after acquiring an additional 29,970 shares during the quarter. Graham Capital Management L.P.'s holdings in CAVA Group were worth $4,752,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its position in CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC acquired a new stake in CAVA Group during the first quarter worth about $26,000. Dagco Inc. acquired a new stake in CAVA Group during the first quarter worth about $27,000. Versant Capital Management Inc acquired a new stake in CAVA Group during the first quarter worth about $31,000. Finally, Brooklyn Investment Group grew its stake 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. 73.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of analyst reports. Melius initiated coverage on shares of CAVA Group in a research note on Monday, July 14th. They set a "hold" rating and a $95.00 price objective on the stock. Cfra Research upgraded shares of CAVA Group to a "strong-buy" rating in a research note on Thursday, August 14th. TD Cowen reduced their price objective on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Morgan Stanley reduced their price objective on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Finally, Robert W. Baird set a $95.00 price objective on shares of CAVA Group in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.47.

Insiders Place Their Bets

In related news, insider Jennifer Somers sold 2,861 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the transaction, the insider owned 137,048 shares in the company, valued at $10,300,527.68. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $230,139.92. Following the completion of the transaction, the insider owned 350,209 shares of the company's stock, valued at approximately $26,321,708.44. This trade represents a 0.87% 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 over the last quarter. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

NYSE CAVA traded down $2.01 during trading hours on Tuesday, reaching $65.54. The company's stock had a trading volume of 3,520,536 shares, compared to its average volume of 6,200,240. The firm has a fifty day simple moving average of $80.93 and a 200-day simple moving average of $85.32. The stock has a market cap of $7.60 billion, a P/E ratio of 55.08, a P/E/G ratio of 3.38 and a beta of 2.61. CAVA Group, Inc. has a 52 week low of $65.03 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $280.62 million during 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 firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $0.17 EPS. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.