PFG Investments LLC Has $1.36 Million Stake in CAVA Group, Inc. $CAVA

Key Points

• PFG Investments LLC increased its stake in CAVA by 85.9%, buying an additional 10,705 shares to hold 23,160 shares worth about $1.36 million as of the latest SEC filing.
• Analysts rate CAVA a consensus "Moderate Buy" with an average price target of $86.62, and several brokerages recently raised targets and issued "outperform"/buy views.
• CAVA has a market cap of $11.03 billion and a high valuation (P/E ~175.6); it beat the last quarter's EPS estimate ($0.04 vs. $0.03) with revenue of $274.99 million, up 20.9% year-over-year.

PFG Investments LLC raised its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 85.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,160 shares of the company's stock after purchasing an additional 10,705 shares during the period. PFG Investments LLC's holdings in CAVA Group were worth $1,359,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAVA. Cornerstone Planning Group LLC lifted its position in shares of CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock worth $27,000 after purchasing an additional 356 shares during the period. Harbor Investment Advisory LLC lifted its position in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock worth $30,000 after purchasing an additional 400 shares during the period. Toth Financial Advisory Corp lifted its position in shares of CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company's stock worth $31,000 after purchasing an additional 440 shares during the period. Western Pacific Wealth Management LP acquired a new position in shares of CAVA Group in the 3rd quarter worth approximately $33,000. Finally, CNB Bank lifted its position in shares of CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company's stock worth $35,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAVA. Sanford C. Bernstein boosted their price target on shares of CAVA Group from $75.00 to $84.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Johnson Rice set a $72.00 price target on shares of CAVA Group in a research report on Monday, January 5th. UBS Group boosted their price target on shares of CAVA Group from $69.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Royal Bank Of Canada boosted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Finally, Telsey Advisory Group boosted their price target on shares of CAVA Group from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.62.

CAVA Group Stock Up 3.9%

NYSE:CAVA opened at $94.80 on Friday. The company has a fifty day moving average of $79.34 and a 200-day moving average of $65.93. The firm has a market capitalization of $11.03 billion, a P/E ratio of 175.55, a P/E/G ratio of 7.74 and a beta of 2.03. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $101.50.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. CAVA Group's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. On average, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kenneth Robert Bertram sold 994 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $61,767.16. Following the completion of the sale, the insider owned 49,122 shares in the company, valued at $3,052,441.08. The trade was a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 774 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the completion of the sale, the chief accounting officer owned 10,435 shares of the company's stock, valued at $648,430.90. This represents a 6.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,055 shares of company stock worth $2,572,303 over the last ninety days. 6.80% of the stock is owned by company insiders.

CAVA Group 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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