Divisadero Street Capital Management LP Acquires Shares of 10,565 CAVA Group, Inc. $CAVA

Divisadero Street Capital Management LP bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,565 shares of the company’s stock, valued at approximately $638,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital International Investors boosted its position in shares of CAVA Group by 105.4% in the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after purchasing an additional 2,169,553 shares during the last quarter. William Blair Investment Management LLC acquired a new position in CAVA Group in the third quarter valued at about $114,098,000. Alliancebernstein L.P. lifted its stake in CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares during the period. Capital Research Global Investors boosted its holdings in CAVA Group by 28.5% during the third quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock worth $400,801,000 after buying an additional 1,469,758 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of CAVA Group by 58.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,146,502 shares of the company’s stock worth $129,670,000 after buying an additional 794,547 shares during the period. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 1,074 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the sale, the insider directly owned 50,116 shares of the company’s stock, valued at $3,378,319.56. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brett Schulman sold 21,650 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $1,459,426.50. Following the transaction, the chief executive officer owned 807,325 shares of the company’s stock, valued at approximately $54,421,778.25. This represents a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,055 shares of company stock valued at $2,572,303 in the last three months. 12.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. KeyCorp boosted their price objective on shares of CAVA Group from $65.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada upped their target price 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. Morgan Stanley increased 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. Finally, Argus reissued a “hold” rating on shares of CAVA Group in a research report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $84.04.

CAVA Group Stock Performance

NYSE CAVA opened at $82.03 on Monday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 151.91, a PEG ratio of 7.06 and a beta of 2.15. The stock’s 50 day moving average price is $70.41 and its two-hundred day moving average price is $62.44. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. During the same period last year, the business earned $0.05 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast 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.