VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.71 Million Investment in CAVA Group, Inc. $CAVA

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,800 shares of the company’s stock, valued at approximately $1,711,000.

A number of other hedge funds also recently modified their holdings of the business. Modern Wealth Management LLC grew its stake in shares of CAVA Group by 4.2% in the first quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after purchasing an additional 158 shares during the last quarter. Bridgewater Associates LP raised its position in CAVA Group by 2.4% during the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP lifted its holdings in CAVA Group by 57.4% during the 4th 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. Clearstead Advisors LLC lifted its holdings in CAVA Group by 18.2% during the 4th quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock worth $92,000 after buying an additional 241 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of CAVA Group by 53.5% in the 4th quarter. Advisors Asset Management Inc. now owns 694 shares of the company’s stock valued at $41,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other news, insider Douglas W. Thompson bought 6,500 shares of the stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $66.52 per share, with a total value of $432,380.00. Following the completion of the transaction, the insider directly owned 19,371 shares of the company’s stock, valued at $1,288,558.92. This trade represents a 50.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen Kochevar sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the transaction, the director owned 3,074 shares in the company, valued at approximately $276,660. This represents a 76.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 67,512 shares of company stock valued at $6,050,417. Company insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAVA. Mizuho lowered their price objective on CAVA Group from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Citigroup reiterated a “buy” rating on shares of CAVA Group in a report on Tuesday, July 28th. Barclays raised their target price on CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Telsey Advisory Group lifted their target price on CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley upgraded CAVA Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

CAVA Group Price Performance

CAVA stock opened at $55.76 on Friday. The stock has a market capitalization of $6.51 billion, a PE ratio of 101.38, a price-to-earnings-growth ratio of 4.19 and a beta of 1.74. The company’s 50-day moving average is $65.92 and its 200-day moving average is $76.83. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79.

CAVA Group (NYSE:CAVA) last issued 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 business had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue was up 31.3% compared to the same quarter last year. On average, analysts anticipate that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

CAVA Group Company Profile

CAVA Group, Inc is a U.S.-based restaurant company that operates the CAVA fast-casual Mediterranean restaurant brand. Its restaurants offer customizable meals, including grain bowls, salads, pitas, dips, spreads and sides made with Mediterranean-inspired ingredients and flavors. Customers can order meals in restaurants, through digital channels and for catering.

The company’s menu is centered on a build-your-own format, allowing guests to select proteins, grains, greens, toppings, sauces and dips.