Xponance Inc. Increases Stake in CAVA Group, Inc. (NYSE:CAVA)

Xponance Inc. grew its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 60.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,238 shares of the company's stock after acquiring an additional 6,096 shares during the quarter. Xponance Inc.'s holdings in CAVA Group were worth $1,403,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CAVA. Whittier Trust Co. increased its position in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the period. First Horizon Advisors Inc. boosted its position in CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC raised its holdings in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after buying an additional 283 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of CAVA Group in the first quarter worth about $31,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in CAVA Group by 192.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company's stock valued at $44,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAVA. Bank of America boosted their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Barclays upped their target price on shares of CAVA Group from $90.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday. TD Securities reiterated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. KeyCorp started coverage on shares of CAVA Group in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 price target on the stock. Finally, Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.06.

CAVA Group Price Performance

NYSE:CAVA traded down $2.41 during mid-day trading on Thursday, hitting $86.57. 4,198,831 shares of the company's stock were exchanged, compared to its average volume of 3,238,799. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The business has a fifty day moving average price of $84.05 and a 200 day moving average price of $96.27. The company has a market cap of $10.01 billion, a PE ratio of 72.19, a P/E/G ratio of 4.16 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. CAVA Group's revenue was up 28.1% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. On average, equities analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares in the company, valued at $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Theodoros Xenohristos sold 3,062 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $230,139.92. Following the completion of the transaction, the insider owned 350,209 shares in the company, valued at approximately $26,321,708.44. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,951 shares of company stock valued at $5,409,027. Company insiders own 6.80% of the company's stock.

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.