CWA Asset Management Group LLC Acquires 10,381 Shares of CAVA Group, Inc. (NYSE:CAVA)

CWA Asset Management Group LLC increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 119.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,068 shares of the company's stock after acquiring an additional 10,381 shares during the period. CWA Asset Management Group LLC's holdings in CAVA Group were worth $1,648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC boosted its position in CAVA Group by 54.3% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,559 shares of the company's stock valued at $308,000 after buying an additional 1,253 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of CAVA Group in the first quarter valued at about $679,000. Janney Montgomery Scott LLC grew its holdings in CAVA Group by 75.0% during the first quarter. Janney Montgomery Scott LLC now owns 47,405 shares of the company's stock worth $4,096,000 after purchasing an additional 20,312 shares during the period. Robbins Farley grew its holdings in CAVA Group by 2.5% during the first quarter. Robbins Farley now owns 24,622 shares of the company's stock worth $2,128,000 after purchasing an additional 595 shares during the period. Finally, Jackson Square Capital LLC boosted its holdings in shares of CAVA Group by 254.9% during the first quarter. Jackson Square Capital LLC now owns 24,996 shares of the company's stock worth $2,160,000 after acquiring an additional 17,953 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now directly owns 353,271 shares of the company's stock, valued at $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kelly Costanza sold 2,799 shares of the company'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 $210,372.84. Following the sale, the insider now directly owns 122,548 shares of the company's stock, valued at approximately $9,210,707.68. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,951 shares of company stock valued at $5,409,027. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CAVA shares. UBS Group lowered their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. TD Securities reaffirmed a "buy" rating and set a $120.00 price target on shares of CAVA Group in a research report on Friday, May 16th. Robert W. Baird increased their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Barclays decreased their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and an average price target of $119.88.

CAVA Group Stock Performance

NYSE:CAVA traded up $0.29 during trading hours on Friday, reaching $74.74. The company's stock had a trading volume of 4,395,256 shares, compared to its average volume of 3,120,262. The firm has a 50-day simple moving average of $86.07 and a 200-day simple moving average of $101.51. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 3.48 and a beta of 2.77.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to analysts' expectations of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share 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.