D.B. Root & Company LLC Makes New $518,000 Investment in CAVA Group, Inc. $CAVA

Key Points

• D.B. Root & Company LLC acquired a stake in CAVA Group, Inc. valued at approximately $518,000, purchasing 5,999 shares during the first quarter.
• Multiple institutional investors have increased their positions in CAVA, with Jennison Associates LLC growing its stake by 246.1%, owning over 8.5 million shares valued at $736 million.
• CAVA Group recently reported earnings per share (EPS) of $0.16 for the quarter, beating the consensus estimate by $0.03, although revenue fell short of analyst expectations.

D.B. Root & Company LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,999 shares of the company's stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hobbs Group Advisors LLC increased its holdings in CAVA Group by 31.3% in the 1st quarter. Hobbs Group Advisors LLC now owns 2,979 shares of the company's stock valued at $257,000 after purchasing an additional 711 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in CAVA Group by 4,432.3% during the 1st quarter. Ameriprise Financial Inc. now owns 654,279 shares of the company's stock worth $56,537,000 after acquiring an additional 639,843 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in CAVA Group by 114.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after acquiring an additional 1,277,912 shares during the period. Tradition Wealth Management LLC boosted its holdings in CAVA Group by 18.2% during the 1st quarter. Tradition Wealth Management LLC now owns 2,700 shares of the company's stock valued at $233,000 after acquiring an additional 415 shares during the period. Finally, MIG Capital LLC purchased a new stake in CAVA Group during the first quarter worth about $5,792,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CAVA shares. KeyCorp lowered their price objective on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. UBS Group dropped their price target on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. Barclays reduced their price objective on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Sanford C. Bernstein set a $74.00 target price on CAVA Group in a report on Wednesday, August 13th. Finally, Melius started coverage on CAVA Group in a report on Monday, July 14th. They set a "hold" rating and a $95.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and an average target price of $99.47.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 31,856 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $2,394,296.96. Following the completion of the sale, the chief executive officer directly owned 792,318 shares of the company's stock, valued at $59,550,620.88. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 3,062 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the transaction, the insider owned 350,209 shares in the company, valued at $26,321,708.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,360 shares of company stock valued at $3,634,738. 12.10% of the stock is owned by insiders.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $1.0510 on Friday, hitting $68.3810. 3,322,547 shares of the company's stock were exchanged, compared to its average volume of 6,196,685. CAVA Group, Inc. has a 1-year low of $65.70 and a 1-year high of $172.43. The company has a market capitalization of $7.93 billion, a PE ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 2.65. The firm's 50-day moving average is $81.98 and its 200 day moving average is $88.25.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $280.62 million during the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. On average, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

CAVA Group 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.