Townsquare Capital LLC Invests $429,000 in CAVA Group, Inc. $CAVA

Key Points

• Townsquare Capital LLC has invested approximately $429,000 in CAVA Group, acquiring nearly 5,000 shares during the first quarter.
• Several institutional investors, including LaSalle St. Investment Advisors LLC and Swiss National Bank, have also increased their positions in CAVA Group, leading to a total institutional ownership of 73.15%.
• Equities analysts have lowered their price targets for CAVA Group, with Barclays and Bank of America setting new targets of $74.00 and $100.00, respectively.

Townsquare Capital LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,959 shares of the company's stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LaSalle St. Investment Advisors LLC acquired a new position in CAVA Group in the 1st quarter valued at about $275,000. Swiss National Bank increased its position in CAVA Group by 5.7% in the 1st quarter. Swiss National Bank now owns 166,400 shares of the company's stock valued at $14,379,000 after acquiring an additional 9,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CAVA Group by 19.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,206 shares of the company's stock valued at $5,807,000 after acquiring an additional 11,000 shares during the period. Deutsche Bank AG increased its position in CAVA Group by 0.5% in the 1st quarter. Deutsche Bank AG now owns 73,079 shares of the company's stock valued at $6,315,000 after acquiring an additional 328 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in CAVA Group by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company's stock valued at $47,952,000 after acquiring an additional 27,066 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Transactions at CAVA Group

In related news, insider Jennifer Somers sold 2,861 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the sale, the insider owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 4,845 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $364,150.20. Following the completion of the sale, the chief financial officer directly owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,603 shares of company stock worth $4,522,089 in the last quarter. Insiders own 12.10% of the company's stock.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $69.76 on Monday. The business's 50 day simple moving average is $82.85 and its 200-day simple moving average is $90.74. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 58.62, a price-to-earnings-growth ratio of 3.49 and a beta of 2.65. CAVA Group, Inc. has a 12 month low of $65.70 and a 12 month high of $172.43.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on CAVA shares. Barclays dropped their price target on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Bank of America dropped their target price on CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Sanford C. Bernstein set a $74.00 target price on CAVA Group in a research report on Wednesday. Citigroup dropped their target price on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 13th. Finally, TD Securities reiterated a "buy" rating and set a $120.00 target price on shares of CAVA Group in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and an average target price of $100.44.

CAVA Group 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.

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