Grandeur Peak Global Advisors LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 67,570 shares of the company's stock, valued at approximately $3,260,000. Grandeur Peak Global Advisors LLC owned about 0.06% of CAVA Group as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Modern Wealth Management LLC increased its position in CAVA Group by 4.2% during the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company's stock worth $313,000 after purchasing an additional 158 shares in the last quarter. Bridgewater Associates LP lifted its holdings in CAVA Group by 2.4% in the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company's stock valued at $401,000 after purchasing an additional 163 shares in the last quarter. Western Pacific Wealth Management LP boosted its stake in shares of CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company's stock worth $43,000 after purchasing an additional 179 shares during the last quarter. Allworth Financial LP boosted its stake in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company's stock worth $38,000 after purchasing an additional 237 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of CAVA Group by 18.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company's stock worth $92,000 after buying an additional 241 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
CAVA Group Stock Performance
CAVA Group stock opened at $66.80 on Friday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The firm has a 50 day moving average price of $70.43 and a 200 day moving average price of $77.40. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 121.46, a PEG ratio of 4.61 and a beta of 1.74.
CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $368.44 million for the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. CAVA Group's revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Sell-side analysts predict that CAVA Group, Inc. will post 0.54 EPS for the current year.
Insider Buying and Selling at CAVA Group
In other CAVA Group news, insider Theodoros Xenohristos sold 3,252 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the completion of the sale, the insider owned 324,630 shares of the company's stock, valued at approximately $29,031,660.90. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the sale, the insider owned 98,490 shares of the company's stock, valued at $8,864,100. This represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 67,512 shares of company stock worth $6,050,417. 6.70% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities analysts recently issued reports on CAVA shares. Morgan Stanley raised shares of CAVA Group from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, July 15th. Guggenheim cut their price target on CAVA Group from $100.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Royal Bank Of Canada increased their price target on CAVA Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Wolfe Research raised their price objective on CAVA Group from $79.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus lifted their price objective on CAVA Group from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $89.44.
View Our Latest Stock Report on CAVA Group
CAVA Group Company Profile
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Free Report)
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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