E. Ohman J or Asset Management AB Invests $3.32 Million in CAVA Group, Inc. $CAVA

E. Ohman J or Asset Management AB purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 41,089 shares of the company’s stock, valued at approximately $3,324,000.

Several other large investors have also recently bought and sold shares of CAVA. Los Angeles Capital Management LLC purchased a new stake in CAVA Group in the 4th quarter worth about $25,000. Harbor Investment Advisory LLC increased its holdings in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 325 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of CAVA Group in the third quarter worth approximately $36,000. Finally, Allworth Financial LP lifted its position in shares of CAVA Group by 57.4% in the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 33,174 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $2,966,750.82. Following the sale, the chief executive officer owned 798,669 shares in the company, valued at approximately $71,424,968.67. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tricia K. Tolivar sold 4,969 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $444,377.67. Following the transaction, the chief financial officer directly owned 234,931 shares in the company, valued at $21,009,879.33. This trade represents a 2.07% 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. Insiders sold 81,747 shares of company stock valued at $7,070,838 in the last ninety days. Company insiders own 6.70% of the company’s stock.

CAVA Group Stock Performance

NYSE CAVA opened at $89.15 on Friday. The stock has a 50-day simple moving average of $84.16 and a 200 day simple moving average of $74.28. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The stock has a market capitalization of $10.38 billion, a PE ratio of 171.44, a P/E/G ratio of 6.11 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAVA. Wolfe Research started coverage on shares of CAVA Group in a report on Monday, March 9th. They set an “outperform” rating and a $93.00 price target for the company. Roth Mkm reiterated a “buy” rating and issued a $106.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Mizuho increased their target price on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Telsey Advisory Group lifted their target price on shares of CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada boosted their price target on shares of CAVA Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.37.

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.