Edgemoor Investment Advisors Inc. Invests $1.21 Million in CAVA Group, Inc. $CAVA

Edgemoor Investment Advisors Inc. purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 19,984 shares of the company’s stock, valued at approximately $1,207,000.

Several other institutional investors also recently bought and sold shares of the company. Champlain Investment Partners LLC raised its holdings in shares of CAVA Group by 108.3% during the second quarter. Champlain Investment Partners LLC now owns 1,351,955 shares of the company’s stock valued at $113,875,000 after acquiring an additional 703,020 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of CAVA Group during the second quarter worth approximately $57,824,000. Norges Bank purchased a new stake in shares of CAVA Group during the second quarter worth approximately $56,277,000. Alliancebernstein L.P. raised its stake in CAVA Group by 58.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,353,058 shares of the company’s stock valued at $113,968,000 after purchasing an additional 500,367 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in CAVA Group by 1,209.9% in the 2nd quarter. Baird Financial Group Inc. now owns 506,258 shares of the company’s stock valued at $42,642,000 after purchasing an additional 467,608 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 21,650 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer owned 807,325 shares of the company’s stock, valued at $54,421,778.25. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kelly Costanza sold 1,707 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the sale, the insider owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 42,843 shares of company stock worth $2,764,355. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

CAVA opened at $72.59 on Tuesday. The stock has a market capitalization of $8.42 billion, a PE ratio of 62.58, a P/E/G ratio of 5.14 and a beta of 2.41. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $141.75. The business’s 50 day moving average price is $61.71 and its 200 day moving average price is $63.13.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAVA shares. Truist Financial upped their target price on shares of CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. TD Cowen reaffirmed a “buy” rating on shares of CAVA Group in a research note on Monday, January 5th. Barclays raised their target price on shares of CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Stifel Nicolaus set a $75.00 price target on CAVA Group in a research report on Wednesday, November 5th. Finally, Johnson Rice set a $72.00 price objective on CAVA Group in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.50.

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.