Verde Capital Management Raises Position in CAVA Group, Inc. (NYSE:CAVA)

Verde Capital Management grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 41.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,358 shares of the company's stock after purchasing an additional 6,289 shares during the quarter. Verde Capital Management's holdings in CAVA Group were worth $1,846,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CAVA. Janney Montgomery Scott LLC acquired a new position in shares of CAVA Group in the fourth quarter valued at approximately $3,056,000. Geneos Wealth Management Inc. acquired a new stake in shares of CAVA Group during the fourth quarter worth $63,000. Kingswood Wealth Advisors LLC acquired a new stake in CAVA Group in the 4th quarter worth about $260,000. KBC Group NV grew its position in shares of CAVA Group by 114.8% during the 4th quarter. KBC Group NV now owns 3,433 shares of the company's stock worth $387,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of CAVA Group by 89.7% during the fourth quarter. Perigon Wealth Management LLC now owns 4,099 shares of the company's stock worth $482,000 after purchasing an additional 1,938 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Activity

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares of the company's stock, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

CAVA Group Trading Up 1.6%

CAVA stock traded up $1.29 during mid-day trading on Wednesday, reaching $82.35. The company's stock had a trading volume of 2,051,678 shares, compared to its average volume of 3,103,809. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The business's 50 day moving average price is $88.25 and its 200 day moving average price is $107.08. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 179.02 and a beta of 3.28.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $331.83 million for the quarter, compared to analysts' expectations of $327.98 million. During the same quarter last year, the firm earned $0.12 EPS. The company's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Robert W. Baird raised their price objective on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America upped their price target on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a report on Thursday, March 20th. Finally, UBS Group lowered their price target on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

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.