Lisanti Capital Growth LLC Buys New Position in CAVA Group, Inc. (NYSE:CAVA)

Lisanti Capital Growth LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 28,560 shares of the company's stock, valued at approximately $2,468,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the period. FMR LLC boosted its stake in CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after purchasing an additional 491,320 shares during the period. Federated Hermes Inc. boosted its stake in CAVA Group by 33.0% in the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock valued at $165,243,000 after purchasing an additional 363,814 shares during the period. Lord Abbett & CO. LLC boosted its stake in CAVA Group by 2.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company's stock valued at $156,716,000 after purchasing an additional 31,077 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in CAVA Group by 62.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company's stock valued at $140,572,000 after purchasing an additional 480,900 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAVA has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a research note on Wednesday, April 23rd. UBS Group reduced their price target on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Citigroup lifted their price objective on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.94.

Insider Buying and Selling

In related news, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the sale, the insider now owns 125,347 shares in the company, valued at $10,858,810.61. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $55,543.24. Following the sale, the chief accounting officer now owns 11,063 shares in the company, valued at $831,495.08. This represents a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,951 shares of company stock worth $5,409,027 in the last 90 days. Insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

Shares of CAVA Group stock traded up $0.37 during trading on Friday, reaching $78.04. 6,875,984 shares of the company's stock were exchanged, compared to its average volume of 3,164,171. CAVA Group, Inc. has a 1-year low of $70.00 and a 1-year high of $172.43. The company has a market cap of $9.03 billion, a P/E ratio of 65.03, a PEG ratio of 3.64 and a beta of 2.77. The firm's 50-day moving average price is $84.95 and its 200 day moving average price is $99.04.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $327.98 million. During the same quarter in the previous year, the firm earned $0.12 EPS. CAVA Group's revenue was up 28.1% on a year-over-year basis. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.