Capital Research Global Investors Has $495.34 Million Holdings in CAVA Group, Inc. $CAVA

Capital Research Global Investors lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,440,040 shares of the company’s stock after purchasing an additional 1,805,174 shares during the period. Capital Research Global Investors owned 0.07% of CAVA Group worth $495,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. DMC Group LLC lifted its stake in shares of CAVA Group by 3.7% in the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake in shares of CAVA Group by 32.5% in the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock valued at $43,000 after purchasing an additional 179 shares during the last quarter. Allworth Financial LP lifted its stake in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares during the last quarter. Clearstead Advisors LLC lifted its stake in shares of CAVA Group by 18.2% in the 4th quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock valued at $92,000 after purchasing an additional 241 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of 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 purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CAVA. TD Cowen reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CAVA Group in a research note on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $106.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Wolfe Research began coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 price objective for the company. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group upped their price target on shares of CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

CAVA Group Stock Performance

NYSE CAVA opened at $72.57 on Monday. The firm has a 50-day simple moving average of $83.16 and a 200 day simple moving average of $71.79. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The stock has a market cap of $8.45 billion, a PE ratio of 139.55, a PEG ratio of 4.98 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The business had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same period last year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts forecast that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 9,044 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the sale, the insider directly owned 327,882 shares in the company, valued at approximately $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.87, for a total value of $799,498.70. Following the sale, the insider owned 113,850 shares in the company, valued at approximately $9,093,199.50. This represents a 8.08% decrease in their ownership of the stock. 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. Insiders have sold a total of 24,235 shares of company stock valued at $1,920,420 over the last three months. 6.70% of the stock is 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.