Public Employees Retirement System of Ohio Has $5.86 Million Stock Holdings in CAVA Group, Inc. $CAVA

Public Employees Retirement System of Ohio grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 141.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 72,397 shares of the company’s stock after purchasing an additional 42,363 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CAVA Group were worth $5,857,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group in the 4th quarter valued at $25,000. TD Private Client Wealth LLC increased its position in CAVA Group by 118.2% during the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares during the last quarter. Allworth Financial LP increased its position in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after buying an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 347 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of CAVA Group by 53.5% in the fourth quarter. Advisors Asset Management Inc. now owns 694 shares of the company’s stock worth $41,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird upped their price target on CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Telsey Advisory Group boosted their target price on CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Northcoast Research raised CAVA Group to a “strong sell” rating in a research report on Tuesday, April 21st. Freedom Capital upgraded CAVA Group to a “hold” rating in a report on Wednesday, July 1st. Finally, Argus set a $92.00 price target on shares of CAVA Group in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $93.04.

Insider Buying and Selling

In other news, CAO Adam David Phillips sold 5,181 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the sale, the chief accounting officer directly owned 9,505 shares of the company’s stock, valued at approximately $733,215.70. This represents a 35.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the sale, the insider owned 98,490 shares in the company, valued at approximately $8,864,100. The trade was a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 91,747 shares of company stock worth $7,970,838. 6.70% of the stock is currently owned by company insiders.

CAVA Group Stock Performance

CAVA Group stock opened at $65.02 on Wednesday. The business’s 50-day simple moving average is $76.06 and its 200-day simple moving average is $77.25. The firm has a market capitalization of $7.57 billion, a PE ratio of 125.05, a PEG ratio of 4.44 and a beta of 1.69. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The business had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. During the same quarter in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 32.1% compared to the same quarter last year. Research analysts forecast that CAVA Group, Inc. will post 0.54 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.