Jackson Square Capital LLC Acquires 17,953 Shares of CAVA Group, Inc. (NYSE:CAVA)

Jackson Square Capital LLC boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 254.9% in the 1st quarter, Holdings Channel reports. The firm owned 24,996 shares of the company’s stock after buying an additional 17,953 shares during the period. Jackson Square Capital LLC’s holdings in CAVA Group were worth $2,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. acquired a new stake in CAVA Group in the fourth quarter valued at approximately $553,000. Legacy Capital Wealth Partners LLC boosted its position in CAVA Group by 71.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after buying an additional 5,712 shares in the last quarter. Principal Securities Inc. boosted its position in CAVA Group by 263.3% in the fourth quarter. Principal Securities Inc. now owns 436 shares of the company’s stock valued at $49,000 after buying an additional 316 shares in the last quarter. Allworth Financial LP boosted its position 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in CAVA Group by 36.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,897 shares of the company’s stock valued at $3,372,000 after buying an additional 8,035 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction 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 completion of the transaction, the insider now owns 125,347 shares of the company’s stock, valued at $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares of the company’s stock, valued at approximately $33,518,352.48. This trade represents a 2.58% 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.

CAVA Group Stock Down 4.6%

Shares of NYSE CAVA opened at $74.65 on Friday. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The firm has a fifty day simple moving average of $87.44 and a 200 day simple moving average of $103.81. The company has a market capitalization of $8.63 billion, a PE ratio of 162.28 and a beta of 2.77.

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

Analysts Set New Price Targets

A number of analysts have weighed in on CAVA shares. Sanford C. Bernstein upgraded shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Wednesday, April 23rd. Citigroup raised their target price on shares of CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Loop Capital cut their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America lifted their price target on shares of CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average 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.