Natixis Advisors LLC Acquires 26,920 Shares of CAVA Group, Inc. $CAVA

Key Points

• Natixis Advisors LLC increased its CAVA Group stake by 90% in the fourth quarter, buying 26,920 additional shares and bringing its total holding to 56,842 shares worth about $3.34 million.
• Institutional ownership remains high, with 73.15% of CAVA’s stock held by institutions; several other funds also added or initiated positions during the quarter.
• CAVA posted strong quarterly results, reporting EPS of $0.20 versus estimates of $0.17 and revenue of $438.27 million, while analysts maintain a consensus rating of “Moderate Buy” with a $93.19 target price.

Natixis Advisors LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 90.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,842 shares of the company's stock after purchasing an additional 26,920 shares during the quarter. Natixis Advisors LLC's holdings in CAVA Group were worth $3,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rockline Wealth Management LLC bought a new stake in shares of CAVA Group during the fourth quarter worth $244,000. BNP Paribas Financial Markets raised its holdings in shares of CAVA Group by 36.5% in the fourth quarter. BNP Paribas Financial Markets now owns 436,927 shares of the company's stock valued at $25,643,000 after acquiring an additional 116,783 shares in the last quarter. Norges Bank bought a new stake in shares of CAVA Group in the fourth quarter valued at about $50,278,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of CAVA Group in the fourth quarter valued at about $103,000. Finally, Operose Advisors LLC raised its holdings in shares of CAVA Group by 293.4% in the fourth quarter. Operose Advisors LLC now owns 2,388 shares of the company's stock valued at $140,000 after acquiring an additional 1,781 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 10,010 shares of CAVA Group stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $79.87, for a total value of $799,498.70. Following the transaction, the insider owned 113,850 shares in the company, valued at $9,093,199.50. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of CAVA Group stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer owned 9,505 shares in the company, valued at $733,215.70. This trade represents a 35.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,235 shares of company stock worth $1,920,420 over the last quarter. Insiders own 6.70% of the company's stock.

CAVA Group Price Performance

CAVA opened at $76.25 on Wednesday. The business's 50-day moving average is $83.07 and its two-hundred day moving average is $72.21. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The firm has a market capitalization of $8.88 billion, a PE ratio of 146.64, a price-to-earnings-growth ratio of 5.05 and a beta of 1.70.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Argus set a $92.00 price objective on CAVA Group in a report on Friday, May 22nd. Truist Financial lifted their price objective on CAVA Group from $80.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Piper Sandler lifted their price objective on CAVA Group from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Citigroup lifted their price objective on CAVA Group from $75.00 to $92.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Finally, Telsey Advisory Group lifted their price objective on CAVA Group from $92.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, CAVA Group has a consensus rating of "Moderate Buy" and a consensus target price of $93.19.

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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