50,000 Shares in CAVA Group, Inc. (NYSE:CAVA) Acquired by JW Asset Management LLC

Key Points

• JW Asset Management LLC acquired 50,000 shares of CAVA Group, valued at approximately $4.32 million, making it the 6th largest position in its investment portfolio.
• Vanguard Group Inc. increased its stake in CAVA Group by 13.2% during the first quarter, now owning over 9 million shares valued at around $783 million.
• Analysts have set new price targets for CAVA Group, with targets ranging from $91.00 to $120.00, indicating a consensus rating of "Moderate Buy."

JW Asset Management LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $4,320,000. CAVA Group comprises 2.4% of JW Asset Management LLC's holdings, making the stock its 6th largest position.

Several other hedge funds also recently modified their holdings of CAVA. Vanguard Group Inc. increased its position in shares of CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock valued at $783,374,000 after acquiring an additional 1,054,180 shares during the last quarter. Natural Investments LLC acquired a new stake in shares of CAVA Group in the first quarter valued at about $499,000. Wealthspire Advisors LLC increased its position in shares of CAVA Group by 1.1% in the first quarter. Wealthspire Advisors LLC now owns 54,413 shares of the company's stock valued at $4,702,000 after acquiring an additional 585 shares during the last quarter. Vision Financial Markets LLC bought a new stake in shares of CAVA Group in the 1st quarter valued at about $26,000. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of CAVA Group by 14.2% in the 1st quarter. Thoroughbred Financial Services LLC now owns 33,037 shares of the company's stock valued at $2,854,000 after purchasing an additional 4,110 shares during the period. Institutional investors own 73.15% of the company's stock.

CAVA Group Trading Down 4.3%

Shares of NYSE:CAVA traded down $3.79 on Friday, reaching $85.11. 4,082,840 shares of the company's stock were exchanged, compared to its average volume of 3,109,148. The company has a fifty day moving average of $83.36 and a 200-day moving average of $93.07. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 70.93, a PEG ratio of 4.44 and a beta of 2.65.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAVA shares. TD Securities reaffirmed a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a report on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Citigroup upped their target price on shares of CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. UBS Group set a $196.00 target price on shares of CAVA Group in a report on Tuesday. Finally, Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.72.

Insider Activity

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of the stock in a transaction that occurred on 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 owned 137,048 shares in the company, valued at $10,300,527.68. This represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 4,845 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 transaction of $364,150.20. Following the sale, the chief financial officer owned 236,345 shares in the company, valued at $17,763,690.20. This represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,603 shares of company stock worth $4,522,089. Insiders own 6.80% of the company's stock.

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.