CAVA Group, Inc. (NYSE:CAVA) Stock Position Boosted by Renaissance Capital LLC

Renaissance Capital LLC boosted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,958 shares of the company’s stock after buying an additional 536 shares during the quarter. CAVA Group makes up about 5.1% of Renaissance Capital LLC’s holdings, making the stock its 6th largest position. Renaissance Capital LLC owned 0.07% of CAVA Group worth $6,650,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CAVA. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the fourth quarter valued at $25,000. Allworth Financial LP increased its holdings in CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of CAVA Group during the first quarter worth about $31,000. Finally, Whittier Trust Co. grew its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA opened at $79.04 on Friday. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 171.83 and a beta of 2.77. The firm has a 50-day simple moving average of $87.86 and a 200-day simple moving average of $106.08.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 9,348 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares in the company, valued at $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the sale, the insider now owns 125,347 shares of the company’s stock, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAVA has been the topic of several research reports. Bank of America raised their price objective on CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. TD Securities reaffirmed a “buy” rating and set a $120.00 price objective on shares of CAVA Group in a report on Friday, May 16th. Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Wednesday, April 23rd. Citigroup raised their price objective on CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, UBS Group dropped their price objective on CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

CAVA Group Company Profile

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.