19,984 Shares in CAVA Group, Inc. $CAVA Bought by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,984 shares of the company’s stock, valued at approximately $1,207,000.

A number of other hedge funds have also modified their holdings of the company. Arista Wealth Management LLC raised its stake in shares of CAVA Group by 45.1% in the third quarter. Arista Wealth Management LLC now owns 4,020 shares of the company’s stock worth $243,000 after purchasing an additional 1,250 shares during the last quarter. Prospera Financial Services Inc acquired a new position in CAVA Group in the 3rd quarter worth approximately $210,000. ProShare Advisors LLC raised its position in CAVA Group by 16.5% during the 3rd 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 last quarter. D.B. Root & Company LLC lifted its stake in CAVA Group by 46.3% during the 3rd quarter. D.B. Root & Company LLC now owns 8,513 shares of the company’s stock valued at $514,000 after acquiring an additional 2,693 shares during the period. Finally, Crystal Rock Capital Management acquired a new stake in CAVA Group during the 3rd quarter valued at approximately $1,406,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,404 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer owned 231,934 shares in the company, valued at $14,412,378.76. This trade represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kelly Costanza sold 1,707 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the sale, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,843 shares of company stock valued at $2,764,355 in the last ninety days. 12.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAVA. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of CAVA Group in a report on Wednesday, November 5th. Barclays upped their price target on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Truist Financial lifted their price objective on CAVA Group from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Citigroup restated a “neutral” rating on shares of CAVA Group in a research note on Wednesday, November 12th. Finally, Morgan Stanley reduced their price target on CAVA Group from $86.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

CAVA Group Stock Up 3.8%

CAVA stock opened at $72.59 on Tuesday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $141.75. The firm has a market cap of $8.42 billion, a P/E ratio of 62.58, a PEG ratio of 5.14 and a beta of 2.41. The company’s 50-day simple moving average is $61.71 and its 200-day simple moving average is $63.13.

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.