Baker Avenue Asset Management LP Purchases 10,392 Shares of CAVA Group, Inc. $CAVA

Baker Avenue Asset Management LP boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 93.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,569 shares of the company’s stock after purchasing an additional 10,392 shares during the period. Baker Avenue Asset Management LP’s holdings in CAVA Group were worth $1,266,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new stake in CAVA Group in the 4th quarter valued at about $208,000. Goldman Sachs Group Inc. increased its position in CAVA Group by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after acquiring an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CAVA Group by 17.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock valued at $20,447,000 after acquiring an additional 34,860 shares in the last quarter. Brown Advisory Inc. increased its position in CAVA Group by 9.3% in the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock valued at $251,000 after acquiring an additional 253 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in CAVA Group by 20.3% in the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock valued at $772,000 after acquiring an additional 1,549 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Performance

Shares of CAVA opened at $77.47 on Friday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The firm’s 50 day moving average price is $84.37 and its two-hundred day moving average price is $70.77. The firm has a market cap of $9.02 billion, a P/E ratio of 148.99, a PEG ratio of 5.36 and a beta of 1.90.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the subject of several research reports. DA Davidson raised their price objective on shares of CAVA Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. TD Cowen restated a “buy” rating and issued a $100.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. KeyCorp raised their price objective on shares of CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Roth Mkm restated a “buy” rating and issued a $106.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus raised their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of CAVA Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total value of $721,259.00. Following the transaction, the insider owned 327,882 shares of the company’s stock, valued at approximately $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 10,010 shares of CAVA Group stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70. Following the completion of the transaction, the insider directly owned 113,850 shares in the company, valued at approximately $9,093,199.50. The trade was a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 24,235 shares of company stock valued at $1,920,420. 6.70% of the stock is currently owned by corporate insiders.

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.