Crystal Rock Capital Management Raises Stake in CAVA Group, Inc. $CAVA

Key Points

• Crystal Rock Capital Management boosted its stake in CAVA by 76.4% in Q4 to 41,050 shares (worth about $2.41M), representing roughly 1.3% of the firm's holdings and ranking as its 26th largest position.
• Multiple analysts raised price targets and ratings recently (including RBC, Bernstein, Morgan Stanley and KeyCorp), leaving a MarketBeat consensus of "Moderate Buy" with a $86.62 consensus price target.
• CAVA slightly beat quarterly EPS estimates ($0.04 vs. $0.03) with revenue up 20.9% YoY; the stock trades near $94.80 (market cap ~$11.03B) with an elevated P/E (~175), and insiders have sold about 39,055 shares (~$2.57M) in the past 90 days.

Crystal Rock Capital Management grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 76.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,050 shares of the company's stock after purchasing an additional 17,775 shares during the period. CAVA Group makes up about 1.3% of Crystal Rock Capital Management's holdings, making the stock its 26th largest position. Crystal Rock Capital Management's holdings in CAVA Group were worth $2,409,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock worth $27,000 after purchasing an additional 356 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of CAVA Group by 656.7% during 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 purchased a new stake in shares of CAVA Group during the 3rd quarter worth $33,000. Finally, CNB Bank boosted its position in shares of CAVA Group by 275.8% during the 3rd quarter. CNB Bank now owns 575 shares of the company's stock worth $35,000 after purchasing an additional 422 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank Of Canada boosted 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. Sanford C. Bernstein boosted their target price on shares of CAVA Group from $75.00 to $84.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Morgan Stanley boosted their target price on shares of CAVA Group from $80.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 25th. Benchmark upgraded shares of CAVA Group to a "strong-buy" rating in a research report on Thursday, February 5th. Finally, KeyCorp boosted their price objective on shares of CAVA Group from $65.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.62.

CAVA Group Trading Up 3.9%

NYSE:CAVA opened at $94.80 on Friday. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 175.55, a price-to-earnings-growth ratio of 7.74 and a beta of 2.03. The company's 50-day moving average is $79.34 and its two-hundred day moving average is $65.93. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50.

CAVA Group (NYSE:CAVA - Get Free Report) last released 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. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 1,074 shares of the company's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $72,398.34. Following the transaction, the insider directly owned 50,116 shares in the company, valued at approximately $3,378,319.56. This represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of the company's stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $149,384.56. Following the completion of the transaction, the chief financial officer owned 231,934 shares in the company, valued at approximately $14,412,378.76. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,055 shares of company stock worth $2,572,303 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

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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