Quantbot Technologies LP Takes Position in CAVA Group, Inc. $CAVA

Quantbot Technologies LP purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,279 shares of the company’s stock, valued at approximately $742,000.

Several other institutional investors also recently modified their holdings of the business. Artisan Partners Limited Partnership raised its position in CAVA Group by 89.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 313,240 shares of the company’s stock worth $18,923,000 after purchasing an additional 147,778 shares during the last quarter. Xponance Inc. grew its position in shares of CAVA Group by 7.2% in the 3rd quarter. Xponance Inc. now owns 20,870 shares of the company’s stock valued at $1,261,000 after buying an additional 1,407 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CAVA Group by 20.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock valued at $6,265,000 after buying an additional 17,600 shares during the period. Primecap Management Co. CA increased its stake in shares of CAVA Group by 224.1% in the third quarter. Primecap Management Co. CA now owns 85,250 shares of the company’s stock valued at $5,150,000 after buying an additional 58,950 shares during the period. Finally, US Bancorp DE raised its position in shares of CAVA Group by 9.2% during the third quarter. US Bancorp DE now owns 9,979 shares of the company’s stock worth $603,000 after acquiring an additional 844 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In related news, insider Kelly Costanza sold 1,707 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 transaction of $106,072.98. Following the transaction, the insider directly owned 119,139 shares of the company’s stock, valued at $7,403,297.46. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the sale, the insider owned 332,205 shares of the company’s stock, valued at $20,643,218.70. The trade was a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 39,055 shares of company stock worth $2,572,303. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of recent analyst reports. Barclays lifted their price objective on CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. UBS Group increased their target price on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Citigroup boosted their price target on shares of CAVA Group from $74.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Sanford C. Bernstein upped their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.65.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $78.74 on Friday. The stock’s 50-day moving average is $68.23 and its 200 day moving average is $62.00. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $101.50. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 145.82, a PEG ratio of 6.76 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

CAVA Group Company 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.