86,440 Shares in CAVA Group, Inc. $CAVA Bought by Castleark Management LLC

Castleark Management LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 86,440 shares of the company’s stock, valued at approximately $6,784,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in CAVA Group during the 2nd quarter worth about $757,013,000. Capital Research Global Investors lifted its holdings in shares of CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after purchasing an additional 1,805,174 shares in the last quarter. Capital International Investors boosted its position in shares of CAVA Group by 15.5% during the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after buying an additional 656,581 shares during the period. Morgan Stanley boosted its position in shares of CAVA Group by 33.7% during the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after buying an additional 835,628 shares during the period. Finally, State Street Corp grew its holdings in shares of CAVA Group by 1.3% during the fourth quarter. State Street Corp now owns 2,920,442 shares of the company’s stock worth $171,401,000 after buying an additional 36,508 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Mizuho cut their target price on CAVA Group from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. KeyCorp lowered their price objective on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of CAVA Group in a research report on Tuesday, July 28th. Finally, Telsey Advisory Group increased their target price on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $69.25 on Wednesday. The stock has a 50 day moving average price of $71.28 and a 200 day moving average price of $77.39. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The stock has a market capitalization of $8.09 billion, a PE ratio of 125.92, a price-to-earnings-growth ratio of 4.95 and a beta of 1.74.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $368.44 million for the quarter, compared to analyst estimates of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 EPS. As a group, research analysts forecast that CAVA Group, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the sale, the insider directly owned 98,490 shares of the company’s stock, valued at approximately $8,864,100. This represents a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tricia K. Tolivar sold 4,969 shares of CAVA Group stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the transaction, the chief financial officer directly owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. This trade represents a 2.07% 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. Insiders have sold a total of 67,512 shares of company stock worth $6,050,417 in the last quarter. 6.70% of the stock is owned by company insiders.

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.