Investment Partners LTD. Purchases New Position in CAVA Group, Inc. (NYSE:CAVA)

Investment Partners LTD. acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,428 shares of the company's stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings 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 during the last quarter. Larson Financial Group LLC lifted its holdings in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of CAVA Group during the first quarter valued at approximately $31,000. Whittier Trust Co. lifted its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 283 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of NYSE CAVA traded up $0.51 during midday trading on Wednesday, hitting $88.08. 1,146,462 shares of the company's stock traded hands, compared to its average volume of 3,228,798. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 73.25, a price-to-earnings-growth ratio of 3.96 and a beta of 2.65. The firm has a fifty day moving average of $84.56 and a 200 day moving average of $97.25.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. The firm had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. CAVA Group's revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the completion of the transaction, the insider owned 125,347 shares of the company's stock, valued at $10,858,810.61. This represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Somers sold 2,861 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $215,032.76. Following the transaction, the insider directly owned 137,048 shares of the company's stock, valued at $10,300,527.68. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock worth $5,409,027 in the last three months. Corporate insiders own 12.10% of the company's stock.

Analysts Set New Price Targets

CAVA has been the subject of several recent research reports. KeyCorp initiated coverage on shares of CAVA Group in a report on Wednesday, July 2nd. They set an "overweight" rating and a $100.00 target price for the company. Citigroup boosted their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. UBS Group decreased their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Robert W. Baird boosted their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.82.

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.