Prime Capital Management Co Ltd Buys Shares of 541,330 CAVA Group, Inc. $CAVA

Prime Capital Management Co Ltd purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the third quarter, Holdings Channel reports. The fund purchased 541,330 shares of the company’s stock, valued at approximately $32,702,000. CAVA Group comprises 3.9% of Prime Capital Management Co Ltd’s holdings, making the stock its 6th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of CAVA. Quadcap Wealth Management LLC increased its holdings in shares of CAVA Group by 1.4% during the second quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock valued at $755,000 after purchasing an additional 124 shares during the period. McDonough Capital Management Inc lifted its holdings in CAVA Group by 4.7% in the second quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock worth $245,000 after purchasing an additional 131 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its holdings in CAVA Group by 5.6% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock worth $237,000 after purchasing an additional 150 shares during the period. ProShare Advisors LLC grew its position in CAVA Group by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 3,640 shares of the company’s stock valued at $307,000 after buying an additional 177 shares in the last quarter. Finally, Nautilus Advisors LLC grew its position in CAVA Group by 7.5% in the 2nd quarter. Nautilus Advisors LLC now owns 2,673 shares of the company’s stock valued at $225,000 after buying an additional 186 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Barclays raised their price objective on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. DA Davidson began coverage on CAVA Group in a report on Friday, March 6th. They set a “neutral” rating and a $80.00 target price on the stock. Finally, Wolfe Research began coverage on CAVA Group in a research report on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.04.

CAVA Group Trading Up 2.1%

Shares of NYSE CAVA opened at $82.03 on Friday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $101.50. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 151.91, a PEG ratio of 6.91 and a beta of 2.16. The firm has a 50-day moving average of $70.41 and a two-hundred day moving average of $62.51.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In other CAVA Group news, insider Kelly Costanza sold 1,707 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $106,072.98. Following the transaction, the insider owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 4,542 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $282,239.88. Following the sale, the chief executive officer owned 802,783 shares of the company’s stock, valued at $49,884,935.62. This trade represents a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,055 shares of company stock valued at $2,572,303 in the last ninety days. 6.80% of the stock is owned by company insiders.

CAVA Group 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.