Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in CAVA Group, Inc. $CAVA

Key Points

• Mitsubishi UFJ Asset Management increased its stake in CAVA Group by 26.6% in the fourth quarter, ending with 131,306 shares worth about $7.95 million.
• CAVA’s latest quarterly results beat expectations, with EPS of $0.04 versus the $0.03 estimate and revenue of $274.99 million, up 20.9% year over year.
• Analysts remain generally constructive: the stock has a Moderate Buy consensus rating with an average price target of $89.70, though opinions are mixed and one firm recently downgraded it to strong sell.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 26.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,306 shares of the company's stock after acquiring an additional 27,600 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.11% of CAVA Group worth $7,951,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAVA. Cornerstone Planning Group LLC lifted its position in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock valued at $30,000 after buying an additional 400 shares during the last quarter. CNB Bank raised its stake in CAVA Group by 275.8% in the third quarter. CNB Bank now owns 575 shares of the company's stock valued at $35,000 after buying an additional 422 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in CAVA Group during the 3rd quarter worth about $36,000. Finally, National Bank of Canada FI lifted its holdings in CAVA Group by 195.1% during the 3rd quarter. National Bank of Canada FI now owns 717 shares of the company's stock worth $43,000 after buying an additional 474 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Up 0.2%

CAVA opened at $79.52 on Monday. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50. The business's 50 day moving average is $85.49 and its two-hundred day moving average is $68.47. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 147.27, a price-to-earnings-growth ratio of 5.62 and a beta of 1.90.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same period last year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts expect that CAVA Group, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAVA. Northcoast Research upgraded CAVA Group to a "strong sell" rating in a report on Tuesday, April 21st. Benchmark upped their price target on CAVA Group from $80.00 to $110.00 and gave the company a "buy" rating in a report on Monday, April 20th. Wolfe Research initiated coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an "outperform" rating and a $93.00 price target on the stock. Citigroup raised their price objective on shares of CAVA Group from $75.00 to $92.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Finally, Sanford C. Bernstein boosted their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.70.

CAVA Group Company Profile

CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.

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