CAVA Group, Inc. (NYSE:CAVA) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in CAVA Group by 19.6% during the 1st quarter, totaling approximately $5.81 million.
• Insider trading activity saw CEO Brett Schulman sell 31,856 shares, which reduced his ownership by 3.87%.
• Analysts have mixed opinions on CAVA Group, with a consensus rating of "Moderate Buy" and an average price target of $119.72.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,206 shares of the company's stock after purchasing an additional 11,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of CAVA Group worth $5,807,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAVA. First Horizon Advisors Inc. increased its position in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Vision Financial Markets LLC bought a new position in CAVA Group during the first quarter valued at approximately $26,000. Versant Capital Management Inc bought a new position in shares of CAVA Group in the first quarter worth approximately $31,000. NCP Inc. bought a new position in shares of CAVA Group in the first quarter worth approximately $44,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of CAVA Group by 37.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after purchasing an additional 144 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Kelly Costanza sold 10,243 shares of the firm'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 transaction, the insider owned 125,347 shares in the company, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Somers sold 2,861 shares of the company'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 $215,032.76. Following the sale, the insider owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,603 shares of company stock valued at $4,522,089. Company insiders own 6.80% of the company's stock.

CAVA Group Price Performance

Shares of NYSE:CAVA traded up $0.14 during mid-day trading on Friday, reaching $69.07. 3,230,846 shares of the company traded hands, compared to its average volume of 3,849,996. The company's 50 day moving average price is $83.04 and its 200-day moving average price is $91.77. The firm has a market cap of $7.99 billion, a PE ratio of 58.07, a PEG ratio of 3.58 and a beta of 2.65. CAVA Group, Inc. has a 52 week low of $65.70 and a 52 week high of $172.43.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on CAVA shares. Sanford C. Bernstein set a $74.00 target price on shares of CAVA Group in a report on Wednesday. KeyCorp set a $85.00 price target on CAVA Group and gave the stock an "overweight" rating in a research note on Wednesday. Citigroup dropped their price target on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research note on Wednesday. Bank of America lowered their price objective on CAVA Group from $121.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Melius initiated coverage on CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, CAVA Group presently has an average rating of "Moderate Buy" and a consensus target price of $100.44.

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.