10,441 Shares in CAVA Group, Inc. $CAVA Bought by Granite Investment Partners LLC

Granite Investment Partners LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA) during the third quarter, Holdings Channel reports. The institutional investor bought 10,441 shares of the company’s stock, valued at approximately $631,000.

Several other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in CAVA Group in the second quarter valued at approximately $463,000. Y Intercept Hong Kong Ltd raised its holdings 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 valued at $1,993,000 after purchasing an additional 17,294 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of 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 purchasing an additional 73,871 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in CAVA Group in the second quarter worth $57,824,000. Finally, Renaissance Capital LLC increased its position in CAVA Group by 42.7% during the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after buying an additional 31,651 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 774 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 $48,096.36. Following the completion of the sale, the chief accounting officer directly owned 10,435 shares of the company’s stock, valued at $648,430.90. This represents a 6.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Theodoros Xenohristos sold 1,039 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the transaction, the insider 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 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 90 days. 12.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on CAVA. Benchmark upgraded CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Johnson Rice set a $72.00 price objective on CAVA Group in a research note on Monday, January 5th. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a research report on Wednesday, November 5th. KeyCorp lowered their price target on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Morgan Stanley reduced their price objective on shares of CAVA Group from $86.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

CAVA Group Stock Down 2.5%

Shares of NYSE CAVA opened at $68.36 on Tuesday. The business’s 50 day moving average is $64.35 and its two-hundred day moving average is $61.64. The company has a market cap of $7.93 billion, a P/E ratio of 58.93, a P/E/G ratio of 5.15 and a beta of 2.41. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $108.98.

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.