Xcel Wealth Management LLC Has $3.30 Million Holdings in CAVA Group, Inc. $CAVA

Xcel Wealth Management LLC grew its position in CAVA Group, Inc. (NYSE:CAVA) by 27.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,593 shares of the company’s stock after purchasing an additional 11,843 shares during the quarter. Xcel Wealth Management LLC’s holdings in CAVA Group were worth $3,298,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quadcap Wealth Management LLC grew its holdings in CAVA Group by 1.4% in the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock valued at $755,000 after buying an additional 124 shares in the last quarter. McDonough Capital Management Inc boosted its position in shares of CAVA Group by 4.7% in the second 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 period. Tsfg LLC grew its stake in shares of CAVA Group by 19.1% in the second quarter. Tsfg LLC now owns 937 shares of the company’s stock valued at $79,000 after acquiring an additional 150 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in shares of CAVA Group by 5.6% in the second 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 in the last quarter. Finally, D.A. Davidson & CO. increased its position in CAVA Group by 0.4% during the second quarter. D.A. Davidson & CO. now owns 34,342 shares of the company’s stock worth $2,893,000 after acquiring an additional 153 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

Shares of CAVA opened at $72.06 on Monday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $144.49. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 62.12, a PEG ratio of 3.69 and a beta of 2.41. The business’s fifty day moving average is $56.14 and its 200-day moving average is $65.75.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60. Following the completion of the transaction, the insider directly owned 51,143 shares in the company, valued at $2,592,950.10. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAVA. Piper Sandler lowered their target price on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Stifel Nicolaus set a $75.00 price objective on CAVA Group in a report on Wednesday, November 5th. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a research report on Wednesday, November 5th. UBS Group raised their price target on CAVA Group from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 price target on shares of CAVA Group in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.83.

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.