Prime Capital Management Co Ltd Invests $32.70 Million in CAVA Group, Inc. $CAVA

Prime Capital Management Co Ltd acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 541,330 shares of the company’s stock, valued at approximately $32,702,000. CAVA Group comprises approximately 3.9% of Prime Capital Management Co Ltd’s holdings, making the stock its 6th biggest position. Prime Capital Management Co Ltd owned approximately 0.47% of CAVA Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadcap Wealth Management LLC lifted its holdings in CAVA Group by 1.4% during the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock worth $755,000 after buying an additional 124 shares during the last quarter. McDonough Capital Management Inc increased its holdings in shares of CAVA Group by 4.7% in the 2nd quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock valued at $245,000 after acquiring an additional 131 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of CAVA Group by 5.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock valued at $237,000 after acquiring an additional 150 shares during the last quarter. ProShare Advisors LLC raised its position in shares of CAVA Group by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 3,640 shares of the company’s stock valued at $307,000 after acquiring an additional 177 shares in the last quarter. Finally, Nautilus Advisors LLC lifted its stake in CAVA Group by 7.5% during the second quarter. Nautilus Advisors LLC now owns 2,673 shares of the company’s stock worth $225,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 1,707 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the transaction, the insider owned 119,139 shares in the company, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam David Phillips sold 774 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the completion of the sale, the chief accounting officer owned 10,435 shares in the company, valued at $648,430.90. The trade was a 6.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CAVA. Benchmark raised shares of CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Truist Financial increased their target price on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Sanford C. Bernstein raised their price target on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. UBS Group lifted their price target on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Finally, KeyCorp boosted their price objective on shares of CAVA Group from $65.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.04.

CAVA Group Price Performance

Shares of CAVA opened at $82.03 on Friday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The stock has a fifty day moving average price of $70.41 and a 200 day moving average price of $62.51. The company has a market cap of $9.55 billion, a P/E ratio of 151.91, a PEG ratio of 6.91 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

CAVA Group Company Profile

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.