State of Alaska Department of Revenue Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

State of Alaska Department of Revenue acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,525 shares of the company's stock, valued at approximately $823,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWA Asset Management Group LLC increased its position in shares of CAVA Group by 119.5% during the first quarter. CWA Asset Management Group LLC now owns 19,068 shares of the company's stock worth $1,648,000 after purchasing an additional 10,381 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of CAVA Group by 54.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,559 shares of the company's stock worth $308,000 after purchasing an additional 1,253 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of CAVA Group during the first quarter worth approximately $679,000. Janney Montgomery Scott LLC increased its position in shares of CAVA Group by 75.0% during the first quarter. Janney Montgomery Scott LLC now owns 47,405 shares of the company's stock worth $4,096,000 after purchasing an additional 20,312 shares in the last quarter. Finally, Robbins Farley increased its position in shares of CAVA Group by 2.5% during the first quarter. Robbins Farley now owns 24,622 shares of the company's stock worth $2,128,000 after purchasing an additional 595 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CAVA shares. Robert W. Baird boosted their price target on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Barclays dropped their price target on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Bank of America boosted their price target on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. TD Securities reiterated a "buy" rating and set a $120.00 price target on shares of CAVA Group in a research report on Friday, May 16th. Finally, UBS Group lowered their price objective on CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Insider Transactions at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 739 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the transaction, the chief accounting officer now owns 11,063 shares of the company's stock, valued at $831,495.08. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the transaction, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,951 shares of company stock valued at $5,409,027. Corporate insiders own 6.80% of the company's stock.

CAVA Group Trading Up 0.5%

CAVA Group stock traded up $0.37 during midday trading on Friday, reaching $78.04. 6,875,984 shares of the stock traded hands, compared to its average volume of 3,164,171. The company has a 50-day simple moving average of $84.95 and a two-hundred day simple moving average of $99.04. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The firm has a market cap of $9.03 billion, a PE ratio of 65.03, a price-to-earnings-growth ratio of 3.64 and a beta of 2.77.

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

About CAVA Group

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.