CAVA Group, Inc. $CAVA Shares Acquired by Interval Partners LP

Key Points

• Interval Partners LP significantly increased its stake in CAVA Group, Inc. by 604.1%, owning $15.21 million worth of shares after acquiring an additional 151,029 shares in the first quarter.
• Several research firms have lowered their price targets for CAVA Group, with Barclays and others setting targets between $74.00 and $95.00, while analysts maintain a consensus rating of "Moderate Buy."
• In the latest quarterly earnings report, CAVA Group reported earnings of $0.16 per share, surpassing analyst expectations, with year-over-year revenue growth of 20.2% despite falling short of revenue estimates.

Interval Partners LP increased its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 604.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,029 shares of the company's stock after buying an additional 151,029 shares during the period. Interval Partners LP owned 0.15% of CAVA Group worth $15,211,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CAVA. First Horizon Advisors Inc. increased its stake in shares of CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in CAVA Group in the first quarter worth approximately $26,000. Dagco Inc. purchased a new stake in CAVA Group in the first quarter worth approximately $27,000. Versant Capital Management Inc purchased a new position in shares of CAVA Group during the 1st quarter worth $31,000. Finally, Brooklyn Investment Group boosted its stake in shares of CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after acquiring an additional 252 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Kelly Costanza sold 2,799 shares of the 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 $210,372.84. Following the completion of the sale, the insider owned 122,548 shares of the company's stock, valued at approximately $9,210,707.68. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Somers sold 2,861 shares of CAVA Group stock in a transaction 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 $10,300,527.68. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,360 shares of company stock valued at $3,634,738. 12.10% of the stock is owned by corporate insiders.

CAVA Group Price Performance

CAVA Group stock traded down $0.34 during mid-day trading on Wednesday, reaching $64.94. 1,497,368 shares of the company traded hands, compared to its average volume of 3,818,251. CAVA Group, Inc. has a fifty-two week low of $63.80 and a fifty-two week high of $172.43. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 54.66, a price-to-earnings-growth ratio of 3.27 and a beta of 2.61. The firm's fifty day moving average is $79.57 and its two-hundred day moving average is $83.37.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.CAVA Group's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

CAVA has been the topic of several recent analyst reports. Melius began coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price objective on the stock. Bank of America reduced their target price on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Morgan Stanley reduced their target price on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Finally, Piper Sandler dropped their price target on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $96.41.

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.