AGF Management Ltd. Raises Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• AGF Management Ltd. increased its stake in CAVA Group, Inc. by 8.5% in Q1, owning approximately 0.09% of the company valued at $8.5 million.
• CAVA's stock faced mixed ratings from analysts, with price targets ranging from $95.00 to $120.00, and an average rating of "Moderate Buy."
• In a recent quarter, CAVA reported earnings per share of $0.22, exceeding expectations, and a 28.1% year-over-year growth in revenue.

AGF Management Ltd. raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,381 shares of the company's stock after purchasing an additional 7,679 shares during the quarter. AGF Management Ltd. owned about 0.09% of CAVA Group worth $8,501,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Financial Engines Advisors L.L.C. raised its holdings in shares of CAVA Group by 3.4% during the first quarter. Financial Engines Advisors L.L.C. now owns 23,934 shares of the company's stock worth $2,068,000 after purchasing an additional 797 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of CAVA Group by 6.0% during the first quarter. Independent Advisor Alliance now owns 36,782 shares of the company's stock worth $3,178,000 after purchasing an additional 2,074 shares during the last quarter. Nuveen LLC purchased a new position in shares of CAVA Group during the first quarter worth $72,800,000. Covestor Ltd raised its holdings in shares of CAVA Group by 191.6% during the first quarter. Covestor Ltd now owns 1,884 shares of the company's stock worth $163,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of CAVA Group during the first quarter worth $429,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Transactions at CAVA Group

In related news, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the transaction, the insider owned 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of CAVA Group 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 $26,321,708.44. This trade represents a 0.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,603 shares of company stock valued at $4,522,089. 6.80% of the stock is owned by corporate insiders.

CAVA Group Stock Up 1.2%

Shares of CAVA traded up $0.83 during trading on Friday, reaching $69.76. 4,808,844 shares of the company traded hands, compared to its average volume of 3,854,865. CAVA Group, Inc. has a twelve month low of $65.70 and a twelve month high of $172.43. The stock has a market cap of $8.07 billion, a PE ratio of 58.62, a price-to-earnings-growth ratio of 3.58 and a beta of 2.65. The stock has a 50-day simple moving average of $83.04 and a 200-day simple moving average of $91.77.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share 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 analysts' expectations 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 for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus lowered their price target on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Melius assumed coverage on shares of CAVA Group in a report on Monday, July 14th. They set a "hold" rating and a $95.00 price objective on the stock. Citigroup decreased their price objective on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday. Barclays decreased their price objective on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.44.

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.