18,321 Shares in CAVA Group, Inc. $CAVA Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,321 shares of the company’s stock, valued at approximately $1,438,000.

A number of other hedge funds have also added to or reduced their stakes in CAVA. FNY Investment Advisers LLC purchased a new stake in shares of CAVA Group in the second quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new position in CAVA Group during the 4th quarter worth $25,000. TD Private Client Wealth LLC increased its holdings in CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the period. EverSource Wealth Advisors LLC raised its position in CAVA Group by 115.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after purchasing an additional 347 shares in the last quarter. Finally, Allworth Financial LP raised its position in CAVA Group by 57.4% during 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 in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CAVA shares. BMO Capital Markets set a $100.00 price target on CAVA Group in a research note on Wednesday, May 20th. TD Cowen lowered their price objective on shares of CAVA Group from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Sanford C. Bernstein reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, August 12th. Roth Capital reissued a “buy” rating and set a $95.00 target price (down from $106.00) on shares of CAVA Group in a research report on Wednesday, August 12th. Finally, Robert W. Baird boosted their price target on shares of CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.44.

CAVA Group Trading Down 3.7%

CAVA opened at $69.25 on Wednesday. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 125.92, a PEG ratio of 4.95 and a beta of 1.74. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The stock has a fifty day moving average price of $71.28 and a 200-day moving average price of $77.39.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $368.44 million for 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%.The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 10,000 shares of CAVA Group stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director owned 3,074 shares of the company’s stock, valued at $276,660. The trade was a 76.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam David Phillips sold 757 shares of CAVA Group stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $67,698.51. Following the completion of the transaction, the chief accounting officer directly owned 6,848 shares in the company, valued at approximately $612,416.64. The trade was a 9.95% 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 sold 67,512 shares of company stock worth $6,050,417. Insiders own 6.70% of the company’s stock.

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.