D L Carlson Investment Group Inc. Buys New Holdings in CAVA Group, Inc. $CAVA

D L Carlson Investment Group Inc. purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 34,467 shares of the company’s stock, valued at approximately $2,705,000.

A number of other large investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new stake in CAVA Group in the fourth quarter valued at 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 increased its stake 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 buying an additional 325 shares during the period. 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 raised its holdings in CAVA Group by 115.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 347 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CAVA Group

In other news, insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the transaction, the insider owned 98,490 shares in the company, valued at $8,864,100. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a document filed 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, insider Theodoros Xenohristos sold 3,252 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the completion of the sale, the insider directly owned 324,630 shares in the company, valued at approximately $29,031,660.90. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 67,512 shares of company stock worth $6,050,417. Insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CAVA. KeyCorp cut their price target 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. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday, August 12th. Telsey Advisory Group upped their price objective on shares of CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Robert W. Baird increased their target price on shares of CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Guggenheim cut their target price on CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CAVA Group Trading Up 1.0%

Shares of CAVA opened at $72.28 on Friday. The firm’s 50-day moving average price is $72.34 and its 200-day moving average price is $77.19. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 131.42, a PEG ratio of 4.93 and a beta of 1.74. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79.

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

CAVA Group 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.