Maverick Capital Ltd. Acquires Shares of 61,942 CAVA Group, Inc. $CAVA

Key Points

• Maverick Capital Ltd. acquired approximately 61,942 shares of CAVA Group, valued at about $5.35 million, marking a new position in the company during the first quarter of the year.
• Institutional investors and hedge funds now own 73.15% of CAVA Group's stock, indicating strong market interest and support for the company.
• CAVA Group reported a quarterly earnings per share (EPS) of $0.16, exceeding analysts' expectations, although its revenue of $280.62 million fell short of the consensus estimate of $285.65 million.

Maverick Capital Ltd. acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 61,942 shares of the company's stock, valued at approximately $5,352,000. Maverick Capital Ltd. owned approximately 0.05% of CAVA Group at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in CAVA Group by 54.2% during the first quarter. Royal Bank of Canada now owns 237,537 shares of the company's stock valued at $20,526,000 after acquiring an additional 83,500 shares in the last quarter. Graham Capital Management L.P. lifted its position in CAVA Group by 119.8% during the first quarter. Graham Capital Management L.P. now owns 54,988 shares of the company's stock valued at $4,752,000 after purchasing an additional 29,970 shares during the last quarter. Aperture Investors LLC lifted its position in CAVA Group by 6.7% during the first quarter. Aperture Investors LLC now owns 271,569 shares of the company's stock valued at $23,466,000 after purchasing an additional 17,148 shares during the last quarter. Kodai Capital Management LP lifted its position in CAVA Group by 368.7% during the first quarter. Kodai Capital Management LP now owns 222,101 shares of the company's stock valued at $19,192,000 after purchasing an additional 174,716 shares during the last quarter. Finally, Oak Associates Ltd. OH lifted its position in CAVA Group by 31.2% during the first quarter. Oak Associates Ltd. OH now owns 2,401 shares of the company's stock valued at $207,000 after purchasing an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Trading Up 0.9%

Shares of CAVA traded up $0.59 during mid-day trading on Friday, reaching $66.55. The company's stock had a trading volume of 2,993,913 shares, compared to its average volume of 6,272,529. The stock has a market cap of $7.72 billion, a PE ratio of 55.92, a P/E/G ratio of 3.30 and a beta of 2.61. CAVA Group, Inc. has a 52 week low of $65.03 and a 52 week high of $172.43. The company's fifty day moving average price is $80.30 and its two-hundred day moving average price is $84.28.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. Research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

CAVA has been the subject of several research analyst reports. TD Cowen dropped their target price on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. dropped their target price on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. UBS Group dropped their target price on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. Citigroup dropped their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. Finally, Piper Sandler dropped their target price on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, CAVA Group has a consensus rating of "Moderate Buy" and an average price target of $96.41.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 4,845 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the completion of the sale, the chief financial officer directly owned 236,345 shares in the company, valued at $17,763,690.20. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Theodoros Xenohristos sold 3,062 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $230,139.92. Following the sale, the insider owned 350,209 shares of the company's stock, valued at $26,321,708.44. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,360 shares of company stock worth $3,634,738 over the last ninety days. Insiders own 6.80% of the company's stock.

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.