Norman Fields Gottscho Capital Management LLC Acquires 67,763 Shares of CAVA Group, Inc. $CAVA

Key Points

• Norman Fields Gottscho Capital Management increased its CAVA stake by 197.9% to 102,000 shares, while institutional investors collectively own 73.15% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $88.64, despite recent target reductions; CAVA shares recently traded near $54.26.
• CAVA reported quarterly revenue of $368.44 million, up 31.3% year over year, and earnings of $0.19 per share. The board also authorized a $100 million share-repurchase program.

Norman Fields Gottscho Capital Management LLC boosted its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 197.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,000 shares of the company's stock after acquiring an additional 67,763 shares during the quarter. CAVA Group comprises approximately 1.8% of Norman Fields Gottscho Capital Management LLC's portfolio, making the stock its 14th biggest holding. Norman Fields Gottscho Capital Management LLC owned about 0.09% of CAVA Group worth $5,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of CAVA Group during the 2nd quarter worth $757,013,000. Capital Research Global Investors lifted its stake in shares of CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company's stock valued at $495,344,000 after purchasing an additional 1,805,174 shares during the period. Capital International Investors lifted its stake in shares of CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company's stock valued at $286,718,000 after purchasing an additional 656,581 shares during the period. Wellington Management Group LLP boosted its holdings in CAVA Group by 76.9% during the second quarter. Wellington Management Group LLP now owns 1,605,508 shares of the company's stock worth $126,000,000 after buying an additional 697,699 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new stake in CAVA Group during the second quarter worth about $92,956,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAVA shares. TD Cowen dropped their target price on shares of CAVA Group from $100.00 to $85.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Weiss Ratings lowered CAVA Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 24th. Citigroup restated a "buy" rating on shares of CAVA Group in a report on Tuesday, July 28th. KeyCorp dropped their price objective on CAVA Group from $110.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, August 12th. Finally, Northcoast Research raised CAVA Group from a "sell" rating to a "neutral" rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.64.

Insider Buying and Selling

In related news, insider Douglas Thompson purchased 6,500 shares of the company's stock in a transaction on Monday, August 31st. The stock was bought at an average price of $66.52 per share, with a total value of $432,380.00. Following the completion of the transaction, the insider owned 19,371 shares of the company's stock, valued at approximately $1,288,558.92. This represents a 50.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.70% of the company's stock.

CAVA Group Price Performance

Shares of NYSE CAVA traded down $0.15 on Monday, hitting $54.26. The company's stock had a trading volume of 3,412,784 shares, compared to its average volume of 3,394,685. The stock has a 50 day moving average of $61.40 and a 200-day moving average of $73.95. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 98.65, a price-to-earnings-growth ratio of 4.22 and a beta of 1.80. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The business had revenue of $368.44 million during the quarter, compared to analysts' expectations of $360.09 million. During the same period last year, the company posted $0.16 EPS. The company's revenue was up 31.3% on a year-over-year basis. Sell-side analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

CAVA Group announced that its board has approved a share repurchase plan on Friday, September 18th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

CAVA Group Profile

CAVA Group, Inc is a fast-casual restaurant company focused on Mediterranean-inspired food and hospitality. Its restaurants offer customizable meals such as grain bowls, salads, pitas and dips, with ingredients and flavors influenced by the cuisines of the Mediterranean region. The company also provides digital ordering, delivery and catering services through its restaurant platform.

CAVA began as a Washington, DC-area restaurant concept and has expanded its operations across the United States.

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