Capital International Investors Increases Position in CAVA Group, Inc. $CAVA

Capital International Investors lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 15.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,885,317 shares of the company’s stock after acquiring an additional 656,581 shares during the quarter. Capital International Investors’ holdings in CAVA Group were worth $286,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAVA. Los Angeles Capital Management LLC purchased a new position in shares of CAVA Group in the 4th quarter worth approximately $25,000. Harbor Investment Advisory LLC boosted its stake in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of CAVA Group in the 3rd quarter worth approximately $36,000. Finally, Allworth Financial LP raised its holdings in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CAVA shares. Mizuho lifted their price target on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. BMO Capital Markets set a $100.00 price target on shares of CAVA Group in a report on Wednesday, May 20th. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Wolfe Research started coverage on shares of CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the sale, the insider owned 327,882 shares of the company’s stock, valued at $26,148,589.50. The trade was a 2.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the sale, the chief accounting officer directly owned 9,505 shares in the company, valued at $733,215.70. The trade was a 35.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,235 shares of company stock valued at $1,920,420 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

CAVA Group Price Performance

Shares of CAVA stock opened at $72.57 on Monday. The company’s fifty day simple moving average is $83.16 and its two-hundred day simple moving average is $71.79. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 139.55, a PEG ratio of 4.98 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current year.

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.