Inspire Advisors LLC Takes $405,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Inspire Advisors LLC acquired 4,689 shares of CAVA Group, Inc. for approximately $405,000 in the first quarter, contributing to the company's institutional ownership of 73.15%.
• CAVA Group's stock recently decreased by 2.7%, trading at $85.58, with a market cap of $9.90 billion and a 1-year high of $172.43.
• The company reported a quarterly earnings per share (EPS) of $0.22, exceeding analysts' expectations and showing a 28.1% year-over-year revenue increase to $331.83 million.

Inspire Advisors LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,689 shares of the company's stock, valued at approximately $405,000.

A number of other institutional investors also recently made changes to their positions in CAVA. Utah Retirement Systems grew its position in shares of CAVA Group by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock valued at $462,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of CAVA Group by 37.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock valued at $46,000 after purchasing an additional 144 shares during the period. Miracle Mile Advisors LLC grew its position in shares of CAVA Group by 1.9% in the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock valued at $713,000 after purchasing an additional 150 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of CAVA Group by 7.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock valued at $275,000 after purchasing an additional 159 shares during the period. Finally, Regent Peak Wealth Advisors LLC grew its position in shares of CAVA Group by 6.2% in the first quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock valued at $274,000 after purchasing an additional 186 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CAVA Group

In related news, 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 sale, the insider directly owned 350,209 shares in the company, valued at $26,321,708.44. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Somers sold 2,861 shares of the firm'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 value of $215,032.76. Following the completion of the sale, the insider owned 137,048 shares in the company, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,951 shares of company stock worth $5,409,027. Corporate insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAVA shares. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. UBS Group lowered their price target on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley set a $107.00 price target on CAVA Group and gave the company an "equal weight" rating in a research report on Monday, July 14th. Barclays boosted their price target on CAVA Group from $90.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Bank of America boosted their price target on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.06.

CAVA Group Price Performance

CAVA traded down $4.11 on Friday, reaching $83.91. The company's stock had a trading volume of 1,203,461 shares, compared to its average volume of 3,492,712. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 69.91, a price-to-earnings-growth ratio of 4.51 and a beta of 2.65. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The business's 50 day moving average is $82.75 and its 200 day moving average is $94.48.

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