Douglas Thompson Purchases 6,500 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) insider Douglas Thompson bought 6,500 shares of the stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $66.52 per share, with a total value of $432,380.00. Following the completion of the acquisition, the insider owned 19,371 shares of the company’s stock, valued at $1,288,558.92. This represents a 50.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CAVA Group Stock Performance

CAVA Group stock opened at $61.57 on Friday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 111.95, a PEG ratio of 4.85 and a beta of 1.74. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The stock’s 50 day moving average price is $68.50 and its two-hundred day moving average price is $77.26.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. CAVA Group’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAVA. KeyCorp cut their price objective on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Northcoast Research raised CAVA Group from a “sell” rating to a “neutral” rating in a research report on Thursday, August 13th. Sanford C. Bernstein reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, August 12th. UBS Group raised CAVA Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $90.00 in a research report on Wednesday, June 10th. Finally, DA Davidson reduced their price target on shares of CAVA Group from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. One research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in CAVA Group in the 2nd quarter valued at $757,013,000. California State Teachers Retirement System boosted its holdings in CAVA Group by 7,511.4% during the 2nd quarter. California State Teachers Retirement System now owns 8,436,678 shares of the company’s stock worth $662,110,000 after acquiring an additional 8,325,836 shares during the last quarter. Capital Research Global Investors grew its stake in shares of CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after acquiring an additional 1,805,174 shares in the last quarter. Marshall Wace LLP grew its stake in shares of CAVA Group by 689.8% in the 4th quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock worth $81,448,000 after acquiring an additional 1,212,068 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new stake in shares of CAVA Group in the second quarter valued at about $92,956,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.