Midwest Trust Co Makes New Investment in CAVA Group, Inc. $CAVA

Midwest Trust Co acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 32,133 shares of the company’s stock, valued at approximately $1,941,000.

Several other large investors have also recently made changes to their positions in CAVA. Edgemoor Investment Advisors Inc. bought a new position in CAVA Group during the third quarter valued at $1,207,000. Arista Wealth Management LLC increased its holdings in shares of CAVA Group by 45.1% in the 3rd quarter. Arista Wealth Management LLC now owns 4,020 shares of the company’s stock worth $243,000 after buying an additional 1,250 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of CAVA Group in the 3rd quarter valued at about $210,000. ProShare Advisors LLC boosted its stake in CAVA Group by 16.5% during the third quarter. ProShare Advisors LLC now owns 4,240 shares of the company’s stock worth $256,000 after buying an additional 600 shares during the period. Finally, D.B. Root & Company LLC boosted its stake in shares of CAVA Group by 46.3% during the third quarter. D.B. Root & Company LLC now owns 8,513 shares of the company’s stock valued at $514,000 after purchasing an additional 2,693 shares during the period. 73.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CAVA shares. Piper Sandler dropped their price objective on CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of CAVA Group in a report on Monday, January 5th. Argus dropped their price objective on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Sanford C. Bernstein set a $70.00 price target on CAVA Group in a report on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the sale, the insider directly owned 332,205 shares in the company, valued at approximately $20,643,218.70. The trade was a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kelly Costanza sold 1,707 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the sale, the insider owned 119,139 shares in the company, valued at $7,403,297.46. The trade was a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 42,843 shares of company stock valued at $2,764,355. Insiders own 6.80% of the company’s stock.

CAVA Group Stock Down 2.2%

CAVA stock opened at $67.39 on Thursday. The stock has a market capitalization of $7.82 billion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 5.06 and a beta of 2.41. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $134.89. The firm has a 50 day moving average of $62.29 and a 200 day moving average of $63.02.

About CAVA Group

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.