Louisiana State Employees Retirement System Purchases Shares of 22,100 CAVA Group, Inc. (NYSE:CAVA)

Louisiana State Employees Retirement System purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,100 shares of the company's stock, valued at approximately $1,910,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. boosted 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 during the period. Versant Capital Management Inc purchased a new stake in shares of CAVA Group during the first quarter valued at approximately $31,000. Whittier Trust Co. boosted its stake 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 period. Signaturefd LLC boosted its stake 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 period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of CAVA Group by 192.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company's stock valued at $44,000 after purchasing an additional 254 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Brett Schulman sold 31,856 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Somers sold 2,861 shares of the firm's 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 transaction, the insider owned 137,048 shares of the company's stock, valued at $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,951 shares of company stock valued at $5,409,027. 12.10% of the stock is currently owned by insiders.

CAVA Group Trading Down 1.8%

CAVA opened at $88.25 on Wednesday. The stock has a fifty day simple moving average of $84.14 and a two-hundred day simple moving average of $96.32. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 73.54, a price-to-earnings-growth ratio of 4.22 and a beta of 2.65. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAVA. KeyCorp began coverage on CAVA Group in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $100.00 price objective for the company. Sanford C. Bernstein raised 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. JPMorgan Chase & Co. dropped their price target on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Stifel Nicolaus dropped 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. Finally, Morgan Stanley set a $107.00 price target on CAVA Group and gave the stock an "equal weight" rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $115.00.

CAVA Group Company 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.

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