Zevenbergen Capital Investments LLC Makes New $335,000 Investment in CAVA Group, Inc. $CAVA

Key Points

• Zevenbergen Capital Investments LLC has made a new investment in CAVA Group, purchasing 3,975 shares valued at approximately $335,000.
• Institutional investors currently own 73.15% of CAVA Group, with several hedge funds increasing their positions in the company recently.
• CAVA Group's most recent earnings showed a 20.2% increase in revenue year-over-year, reporting $0.16 EPS, exceeding analysts' expectations.

Zevenbergen Capital Investments LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,975 shares of the company's stock, valued at approximately $335,000.

Several other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of CAVA Group by 37.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after buying an additional 144 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of CAVA Group by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock worth $713,000 after purchasing an additional 150 shares during the period. Regent Peak Wealth Advisors LLC raised its holdings in shares of CAVA Group by 6.2% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock worth $274,000 after purchasing an additional 186 shares during the period. Visionary Wealth Advisors raised its holdings in shares of CAVA Group by 11.2% in the 4th quarter. Visionary Wealth Advisors now owns 2,035 shares of the company's stock worth $230,000 after purchasing an additional 205 shares during the period. Finally, World Investment Advisors raised its holdings in shares of CAVA Group by 6.3% in the 1st quarter. World Investment Advisors now owns 3,565 shares of the company's stock worth $308,000 after purchasing an additional 210 shares during the period. Institutional investors own 73.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAVA. Melius began coverage on shares of CAVA Group in a report on Monday, July 14th. They issued a "hold" rating and a $95.00 price target on the stock. Barclays lowered their price target on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. KeyCorp lowered their price target on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 price target on shares of CAVA Group in a report on Wednesday, August 13th. Finally, Argus set a $76.00 price target on shares of CAVA Group in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.41.

CAVA Group Price Performance

Shares of CAVA stock opened at $63.74 on Friday. The company's fifty day simple moving average is $78.31 and its two-hundred day simple moving average is $82.61. CAVA Group, Inc. has a 1 year low of $63.17 and a 1 year high of $172.43. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 53.56, a PEG ratio of 3.22 and a beta of 2.61.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 739 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 $55,543.24. Following the sale, the chief accounting officer owned 11,063 shares of the company's stock, valued at $831,495.08. The trade was a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Theodoros Xenohristos sold 3,062 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 $230,139.92. Following the sale, the insider directly owned 350,209 shares in the company, valued at $26,321,708.44. The trade was a 0.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,360 shares of company stock worth $3,634,738. Company insiders own 6.80% of the company's stock.

CAVA Group Company 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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