CAVA Group, Inc. $CAVA Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 369.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,840 shares of the company’s stock after purchasing an additional 14,831 shares during the period. SG Americas Securities LLC’s holdings in CAVA Group were worth $1,138,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CAVA. Maryland State Retirement & Pension System increased its holdings in CAVA Group by 37.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock valued at $409,000 after acquiring an additional 1,324 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $463,000. Y Intercept Hong Kong Ltd increased its stake in shares of CAVA Group by 271.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after purchasing an additional 17,294 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in CAVA Group by 1,846,775.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after buying an additional 73,871 shares in the last quarter. Finally, Lewis Asset Management LLC acquired a new stake in shares of CAVA Group during the second quarter valued at $504,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $72.06 on Friday. The business’s fifty day moving average price is $56.14 and its two-hundred day moving average price is $65.87. The company has a market capitalization of $8.36 billion, a P/E ratio of 62.12, a PEG ratio of 3.69 and a beta of 2.41. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $144.49.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. During the same period in the previous year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the subject of several analyst reports. UBS Group boosted their price target on CAVA Group from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Mizuho upped their price target on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Truist Financial increased their price target on CAVA Group from $66.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, Sanford C. Bernstein set a $70.00 target price on shares of CAVA Group in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.83.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the sale, the insider directly owned 51,143 shares of the company’s stock, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.80% 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.