Jamison Private Wealth Management Inc. Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 298 shares of the company’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $45,000. CWM LLC grew its stake in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after buying an additional 254 shares in the last quarter. Montag A & Associates Inc. acquired a new position in CAVA Group during the 4th quarter worth about $26,000. American International Group Inc. boosted its holdings in CAVA Group by 194.2% during the 1st quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after acquiring an additional 468 shares during the period. Finally, PSI Advisors LLC grew its position in CAVA Group by 1,133.3% in the 1st quarter. PSI Advisors LLC now owns 925 shares of the company’s stock valued at $65,000 after acquiring an additional 850 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAVA. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of CAVA Group in a research note on Tuesday, July 30th. Citigroup increased their price objective on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Barclays upped their price target on CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Finally, TD Cowen lifted their price target on shares of CAVA Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $82.75.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 66,414 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the transaction, the chief executive officer now owns 904,094 shares of the company’s stock, valued at $81,467,910.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Kenneth Robert Bertram sold 5,250 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the sale, the insider now owns 67,005 shares in the company, valued at approximately $6,384,236.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 66,414 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the transaction, the chief executive officer now owns 904,094 shares in the company, valued at $81,467,910.34. The disclosure for this sale can be found here. Insiders sold a total of 1,420,564 shares of company stock worth $124,690,835 in the last 90 days.

CAVA Group Stock Performance

Shares of CAVA stock traded up $5.13 during mid-day trading on Friday, hitting $89.11. 958,630 shares of the stock were exchanged, compared to its average volume of 2,563,920. CAVA Group, Inc. has a 12-month low of $29.05 and a 12-month high of $98.69. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 217.34 and a beta of 3.27. The stock’s fifty day simple moving average is $87.88 and its two-hundred day simple moving average is $71.81.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. The company had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, research analysts expect that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.