Neo Ivy Capital Management Acquires Shares of 12,474 CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Neo Ivy Capital Management acquired 12,474 shares of CAVA Group, Inc., amounting to approximately $1,078,000 in the first quarter, highlighting growing institutional interest in the company.
• CAVA Group's recent earnings report showed $0.22 EPS, surpassing expectations and reflecting a 28.1% increase in revenue year-over-year, with net margins of 13.70%.
• Wall Street analysts have issued mixed ratings for CAVA Group, with an average target price of $115.06, indicating a consensus rating of "Moderate Buy" despite varying price targets from different analysts.

Neo Ivy Capital Management purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,474 shares of the company's stock, valued at approximately $1,078,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Utah Retirement Systems grew its stake in shares of CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in CAVA Group by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock valued at $713,000 after purchasing an additional 150 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of CAVA Group by 7.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after purchasing an additional 159 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC grew its holdings in shares of CAVA Group by 6.2% during the first quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock worth $274,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Activity at CAVA Group

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider owned 137,048 shares in the company, valued at $10,300,527.68. This represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider directly owned 353,271 shares of the company's stock, valued at $33,518,352.48. This trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock valued at $5,409,027 over the last 90 days. Corporate insiders own 12.10% of the company's stock.

CAVA Group Price Performance

CAVA stock traded up $4.07 during midday trading on Wednesday, reaching $89.63. 1,363,148 shares of the company's stock traded hands, compared to its average volume of 3,491,179. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The business has a 50-day moving average price of $82.63 and a two-hundred day moving average price of $94.51. The company has a market capitalization of $10.37 billion, a P/E ratio of 74.65, a PEG ratio of 4.39 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same quarter in the previous year, the business posted $0.12 EPS. The business's quarterly revenue was up 28.1% on a year-over-year basis. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group decreased their target price on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Melius started coverage on CAVA Group in a research report on Monday, July 14th. They issued a "hold" rating and a $95.00 price objective for the company. Stifel Nicolaus dropped their target price on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Finally, TD Securities reissued a "buy" rating and issued a $120.00 price target on shares of CAVA Group in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.06.

CAVA Group 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.