D.B. Root & Company LLC Takes Position in CAVA Group, Inc. $CAVA

D.B. Root & Company LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 8,291 shares of the company’s stock, valued at approximately $651,000.

Several other institutional investors also recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in CAVA Group during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new position in shares of CAVA Group in the second quarter worth approximately $31,000. TD Private Client Wealth LLC grew its holdings in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the last quarter. Allworth Financial LP increased its stake in shares of CAVA Group by 57.4% in 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 period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of CAVA Group by 115.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after buying an additional 347 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 33,174 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the sale, the chief executive officer owned 798,669 shares of the company’s stock, valued at $71,424,968.67. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the director directly owned 3,074 shares of the company’s stock, valued at $276,660. This represents a 76.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 67,512 shares of company stock worth $6,050,417 over the last 90 days. 6.70% of the stock is currently owned by insiders.

CAVA Group Stock Performance

CAVA Group stock opened at $73.64 on Monday. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79. The stock’s 50 day simple moving average is $71.99 and its two-hundred day simple moving average is $77.29. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 133.89, a PEG ratio of 5.07 and a beta of 1.75.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The company had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, analysts predict that CAVA Group, Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on CAVA. Barclays boosted their price objective on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Wolfe Research raised their target price on CAVA Group from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. BMO Capital Markets set a $100.00 price target on CAVA Group in a research report on Wednesday, May 20th. Piper Sandler lifted their price objective on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley raised CAVA Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, July 15th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.44.

About CAVA Group

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.