Jones Financial Companies Lllp Acquires 8,173 Shares of CAVA Group, Inc. $CAVA

Jones Financial Companies Lllp increased its holdings in CAVA Group, Inc. (NYSE:CAVA) by 77.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,765 shares of the company’s stock after acquiring an additional 8,173 shares during the period. Jones Financial Companies Lllp’s holdings in CAVA Group were worth $1,175,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CAVA. Atlantic Union Bankshares Corp bought a new stake in CAVA Group during the 2nd quarter worth approximately $31,000. Toth Financial Advisory Corp grew its stake in shares of CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after acquiring an additional 440 shares in the last quarter. Western Pacific Wealth Management LP purchased a new stake in shares of CAVA Group in the third quarter valued at about $33,000. CNB Bank lifted its position in shares of CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 422 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in CAVA Group by 60.9% during the second quarter. Whittier Trust Co. now owns 457 shares of the company’s stock worth $38,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. KeyCorp decreased their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a research report on Wednesday, November 12th. Royal Bank Of Canada set a $70.00 price objective on CAVA Group in a research report on Wednesday, November 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Finally, Telsey Advisory Group initiated coverage on CAVA Group in a research report on Friday, January 9th. They set an “outperform” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $64,563.46. Following the completion of the sale, the insider owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60. Following the sale, the insider directly owned 51,143 shares in the company, valued at approximately $2,592,950.10. This trade represents a 6.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 42,843 shares of company stock worth $2,764,355 in the last three months. Corporate insiders own 6.80% of the company’s stock.

CAVA Group Trading Down 2.2%

CAVA Group stock opened at $67.39 on Thursday. The business’s 50 day simple moving average is $62.29 and its 200 day simple moving average is $63.02. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $134.89. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 58.10, a PEG ratio of 5.06 and a beta of 2.41.

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.