The Manufacturers Life Insurance Company purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,866 shares of the company's stock, valued at approximately $5,719,000. The Manufacturers Life Insurance Company owned approximately 0.06% of CAVA Group at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in CAVA Group during the 4th quarter worth $25,000. FNY Investment Advisers LLC purchased a new stake in shares of CAVA Group in the second quarter valued at about $31,000. TD Private Client Wealth LLC raised its holdings in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock valued at $35,000 after purchasing an additional 325 shares during the last quarter. Allworth Financial LP lifted its position in shares of CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company's stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company's stock worth $38,000 after purchasing an additional 347 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CAVA shares. Telsey Advisory Group upped their price objective on shares of CAVA Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 20th. Weiss Ratings cut shares of CAVA Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 24th. Morgan Stanley upgraded CAVA Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, July 15th. DA Davidson decreased their price target on CAVA Group from $84.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, August 13th. Finally, Robert W. Baird upgraded CAVA Group to a "strong-buy" rating in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.44.
Check Out Our Latest Report on CAVA Group
CAVA Group Trading Down 1.8%
Shares of NYSE CAVA opened at $65.74 on Tuesday. The stock has a fifty day simple moving average of $69.68 and a two-hundred day simple moving average of $77.33. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 119.53, a price-to-earnings-growth ratio of 4.56 and a beta of 1.75.
CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The business had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. During the same period last year, the business posted $0.16 earnings per share. The business's revenue for the quarter was up 31.3% on a year-over-year basis. Analysts forecast that CAVA Group, Inc. will post 0.54 EPS for the current year.
Insider Buying and Selling
In other CAVA Group news, CFO Tricia K. Tolivar sold 4,969 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the transaction, the chief financial officer owned 234,931 shares in the company, valued at $21,009,879.33. This trade represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the completion of the transaction, the insider owned 324,630 shares of the company's stock, valued at $29,031,660.90. The trade was a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 67,512 shares of company stock worth $6,050,417 in the last quarter. 6.70% of the stock is currently owned by company insiders.
About CAVA Group
(
Free Report)
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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