Quantbot Technologies LP Takes $742,000 Position in CAVA Group, Inc. $CAVA

Quantbot Technologies LP bought a new stake in CAVA Group, Inc. (NYSE:CAVA) in the third quarter, Holdings Channel.com reports. The institutional investor bought 12,279 shares of the company’s stock, valued at approximately $742,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of CAVA Group during the second quarter worth approximately $31,000. Toth Financial Advisory Corp lifted its holdings 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 purchasing an additional 440 shares in the last quarter. Western Pacific Wealth Management LP bought a new position in shares of CAVA Group in the 3rd quarter worth $33,000. Finally, CNB Bank grew its position in CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 422 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CAVA Group

In related news, insider Kelly Costanza sold 1,707 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the transaction, the insider directly owned 119,139 shares in the company, valued at approximately $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Theodoros Xenohristos sold 1,039 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the sale, the insider directly owned 332,205 shares of the company’s stock, valued at $20,643,218.70. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Mizuho raised their price objective on shares of CAVA Group from $52.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Argus reiterated a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Sanford C. Bernstein boosted their target price on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Morgan Stanley upped their target price on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.65.

CAVA Group Trading Down 0.8%

Shares of CAVA Group stock opened at $78.74 on Friday. The stock has a fifty day simple moving average of $68.23 and a 200 day simple moving average of $62.00. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50. The company has a market capitalization of $9.16 billion, a P/E ratio of 145.82, a price-to-earnings-growth ratio of 6.76 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same period in the prior year, the firm posted $0.05 EPS. CAVA Group’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

About CAVA Group

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.