Granahan Investment Management LLC Purchases New Holdings in CAVA Group, Inc. $CAVA

Granahan Investment Management LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 230,803 shares of the company's stock, valued at approximately $13,546,000. Granahan Investment Management LLC owned about 0.20% of CAVA Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAVA. Bison Wealth LLC purchased a new position in CAVA Group in the fourth quarter valued at about $208,000. Goldman Sachs Group Inc. boosted its holdings in CAVA Group by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company's stock valued at $52,432,000 after purchasing an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CAVA Group by 17.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company's stock valued at $20,447,000 after purchasing an additional 34,860 shares during the last quarter. Brown Advisory Inc. boosted its holdings in CAVA Group by 9.3% in the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company's stock valued at $251,000 after purchasing an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in CAVA Group by 20.3% in the second quarter. Cresset Asset Management LLC now owns 9,165 shares of the company's stock valued at $772,000 after purchasing an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Stock Down 2.3%

NYSE:CAVA opened at $87.45 on Wednesday. The business's 50 day moving average is $83.87 and its two-hundred day moving average is $73.62. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The company has a market cap of $10.19 billion, a PE ratio of 168.18, a P/E/G ratio of 6.14 and a beta of 1.70.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same quarter last year, the business posted $0.22 EPS. CAVA Group's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Benchmark increased their price target on CAVA Group from $80.00 to $110.00 and gave the company a "buy" rating in a report on Monday, April 20th. Piper Sandler increased their price target on CAVA Group from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. UBS Group raised CAVA Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $90.00 in a report on Wednesday, June 10th. Stifel Nicolaus increased their target price on CAVA Group from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Finally, Wall Street Zen raised CAVA Group from a "sell" rating to a "hold" rating in a report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.37.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 5,181 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $77.14, for a total transaction of $399,662.34. Following the sale, the chief accounting officer directly owned 9,505 shares in the company, valued at approximately $733,215.70. This represents a 35.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 9,044 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the sale, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 24,235 shares of company stock worth $1,920,420. 6.70% of the stock is currently owned by company insiders.

CAVA Group Company Profile

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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