Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 68,906 CAVA Group, Inc. $CAVA

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 68,906 shares of the company’s stock, valued at approximately $5,408,000.

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after purchasing an additional 1,805,174 shares during the last quarter. Capital International Investors lifted its stake in CAVA Group by 15.5% during the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after purchasing an additional 656,581 shares in the last quarter. Morgan Stanley lifted its stake in CAVA Group by 33.7% during the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after purchasing an additional 835,628 shares in the last quarter. State Street Corp boosted its position in shares of CAVA Group by 1.3% during the fourth quarter. State Street Corp now owns 2,920,442 shares of the company’s stock worth $171,401,000 after buying an additional 36,508 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of CAVA Group by 28.1% during the fourth quarter. William Blair Investment Management LLC now owns 2,419,247 shares of the company’s stock worth $141,986,000 after buying an additional 530,524 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

NYSE:CAVA opened at $73.64 on Friday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The firm has a market capitalization of $8.60 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 4.96 and a beta of 1.74. The business’s fifty day moving average price is $71.99 and its 200 day moving average price is $77.16.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.CAVA Group’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. As a group, equities analysts anticipate that CAVA Group, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on CAVA. Northcoast Research upgraded CAVA Group from a “sell” rating to a “neutral” rating in a report on Thursday, August 13th. TD Cowen lowered their target price on CAVA Group from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Weiss Ratings downgraded CAVA Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Barclays increased their price target on shares of CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Buying and Selling at CAVA Group

In related news, insider Kelly Costanza sold 12,490 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the sale, the insider owned 98,490 shares in the company, valued at $8,864,100. The trade was a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $444,377.67. Following the sale, the chief financial officer owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. The trade was a 2.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 67,512 shares of company stock worth $6,050,417. 6.70% of the stock is currently owned by corporate insiders.

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.