CAVA Group, Inc. $CAVA Stake Boosted by PDT Partners LLC

Key Points

• PDT Partners LLC increased its stake in CAVA Group, Inc. by 83.3%, acquiring an additional 42,271 shares, bringing its total holdings to 93,008 shares valued around $8 million.
• Insider trading activity included sales by CFO Tricia K. Tolivar and Theodoros Xenohristos, with total sales amounting to approximately $594,290 on June 16th, which represents a decrease in their respective positions.
• CAVA Group reported a 20.2% year-over-year revenue growth, with quarterly earnings of $0.16 EPS, exceeding analyst expectations of $0.13 EPS.

PDT Partners LLC increased its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 83.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,008 shares of the company's stock after buying an additional 42,271 shares during the quarter. CAVA Group comprises 0.6% of PDT Partners LLC's portfolio, making the stock its 13th largest holding. PDT Partners LLC owned about 0.08% of CAVA Group worth $8,037,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC acquired a new position in shares of CAVA Group during the first quarter valued at $26,000. Dagco Inc. acquired a new position in shares of CAVA Group during the first quarter valued at $27,000. Versant Capital Management Inc acquired a new position in shares of CAVA Group during the first quarter valued at $31,000. Finally, Brooklyn Investment Group increased its holdings in shares of CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock valued at $35,000 after purchasing an additional 252 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. Morgan Stanley lowered their price objective on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Sanford C. Bernstein set a $74.00 price target on CAVA Group in a research note on Wednesday, August 13th. Finally, Citigroup dropped their price objective on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $96.41.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction 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. The trade was a 0.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $55,543.24. Following the sale, the chief accounting officer directly owned 11,063 shares in the company, valued at approximately $831,495.08. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,360 shares of company stock worth $3,634,738. Insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $0.10 during midday trading on Thursday, reaching $66.01. The company had a trading volume of 2,597,907 shares, compared to its average volume of 3,828,997. The company has a fifty day simple moving average of $80.53 and a two-hundred day simple moving average of $84.74. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 55.47, a price-to-earnings-growth ratio of 3.38 and a beta of 2.61. CAVA Group, Inc. has a 1-year low of $65.03 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current 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.