VIRGINIA RETIREMENT SYSTEMS ET Al Trims Position in CAVA Group, Inc. $CAVA

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 74.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,800 shares of the company’s stock after selling 11,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in CAVA Group were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in CAVA Group during the second quarter valued at approximately $31,000. Toth Financial Advisory Corp boosted its holdings in CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares during the period. Fifth Third Bancorp purchased a new position in shares of CAVA Group during the 2nd quarter valued at $38,000. Whittier Trust Co. grew its position in shares of CAVA Group by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after purchasing an additional 173 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of CAVA Group in the second quarter worth $45,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Citigroup restated a “neutral” rating on shares of CAVA Group in a research note on Wednesday, November 12th. Cowen reaffirmed a “buy” rating on shares of CAVA Group in a report on Monday. Mizuho raised CAVA Group to a “hold” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley set a $86.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.36.

CAVA Group Price Performance

NYSE:CAVA opened at $67.13 on Wednesday. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 57.87, a PEG ratio of 3.23 and a beta of 2.41. The business has a 50 day moving average of $53.26 and a 200 day moving average of $66.22. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $144.49.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The firm’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the transaction, the insider owned 51,143 shares in the company, valued at $2,592,950.10. This trade represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.10% of the company’s stock.

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.