CAVA Group, Inc. $CAVA is Leibman Financial Services Inc.’s 10th Largest Position

Leibman Financial Services Inc. lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 162.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,324 shares of the company’s stock after buying an additional 41,712 shares during the quarter. CAVA Group makes up approximately 2.9% of Leibman Financial Services Inc.’s portfolio, making the stock its 10th biggest position. Leibman Financial Services Inc. owned 0.06% of CAVA Group worth $3,951,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of analyst reports. Mizuho boosted their target price on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Truist Financial raised their price target on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Benchmark raised CAVA Group to a “strong-buy” rating in a research report on Thursday, February 5th. Barclays increased their price objective on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Finally, Morgan Stanley raised their target price on CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.04.

Insiders Place Their Bets

In related news, insider Kelly Costanza sold 1,707 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 value of $106,072.98. Following the completion of the sale, the insider directly owned 119,139 shares of the company’s stock, valued at $7,403,297.46. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $61,767.16. Following the transaction, the insider owned 49,122 shares in the company, valued at $3,052,441.08. This represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 39,055 shares of company stock worth $2,572,303. Corporate insiders own 6.80% of the company’s stock.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $87.73 on Friday. The company’s fifty day moving average price is $72.14 and its 200 day moving average price is $63.09. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The firm has a market capitalization of $10.21 billion, a P/E ratio of 162.47, a P/E/G ratio of 7.58 and a beta of 2.16.

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

CAVA Group Company 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.