41,764 Shares in CAVA Group, Inc. (NYSE:CAVA) Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 41,764 shares of the company's stock, valued at approximately $3,609,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after buying an additional 266 shares in the last quarter. Versant Capital Management Inc bought a new stake in CAVA Group in the first quarter worth approximately $31,000. Whittier Trust Co. grew its stake in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after acquiring an additional 127 shares during the period. Signaturefd LLC grew its stake in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after acquiring an additional 283 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in CAVA Group by 192.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company's stock valued at $44,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 739 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the completion of the sale, the chief accounting officer owned 11,063 shares of the company's stock, valued at approximately $831,495.08. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 3,062 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $230,139.92. Following the sale, the insider directly owned 350,209 shares of the company's stock, valued at $26,321,708.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,951 shares of company stock worth $5,409,027. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAVA. Bank of America lifted their target price on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Barclays boosted their price objective on CAVA Group from $90.00 to $91.00 and gave the company an "equal weight" rating in a research note on Thursday. TD Securities reiterated a "buy" rating and set a $120.00 price objective on shares of CAVA Group in a research note on Friday, May 16th. KeyCorp started coverage on CAVA Group in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 target price on the stock. Finally, Robert W. Baird increased their price objective on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $115.06.

CAVA Group Stock Performance

Shares of CAVA traded up $0.72 on Friday, reaching $87.49. The stock had a trading volume of 1,974,861 shares, compared to its average volume of 3,242,601. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 72.91, a price-to-earnings-growth ratio of 4.09 and a beta of 2.65. The company has a 50-day simple moving average of $83.74 and a 200-day simple moving average of $95.93. 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 for the quarter, beating 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 analyst estimates of $327.98 million. During the same quarter last year, the company earned $0.12 EPS. The firm's revenue for the quarter was up 28.1% on a year-over-year basis. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.