34,467 Shares in CAVA Group, Inc. $CAVA Purchased by D L Carlson Investment Group Inc.

D L Carlson Investment Group Inc. acquired a new position in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,467 shares of the company’s stock, valued at approximately $2,705,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Modern Wealth Management LLC lifted its holdings in shares of CAVA Group by 4.2% during the first quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock valued at $313,000 after purchasing an additional 158 shares during the last quarter. Bridgewater Associates LP grew its stake in shares of CAVA Group by 2.4% in the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after buying an additional 163 shares during the last quarter. Western Pacific Wealth Management LP increased its position in CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock valued at $43,000 after buying an additional 179 shares in the last quarter. Allworth Financial LP raised its stake in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after buying an additional 237 shares during the last quarter. Finally, Clearstead Advisors LLC raised its stake in CAVA Group by 18.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock valued at $92,000 after buying an additional 241 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Up 1.0%

CAVA stock opened at $72.28 on Friday. The stock has a market capitalization of $8.44 billion, a PE ratio of 131.42, a price-to-earnings-growth ratio of 4.93 and a beta of 1.74. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The stock’s 50 day simple moving average is $72.34 and its 200 day simple moving average is $77.19.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The business had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. During the same quarter last year, the company earned $0.16 EPS. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, research analysts predict that CAVA Group, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In other CAVA Group news, insider Theodoros Xenohristos sold 3,252 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the completion of the transaction, the insider owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the transaction, the insider directly owned 98,490 shares of the company’s stock, valued at approximately $8,864,100. This trade represents a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 67,512 shares of company stock valued at $6,050,417. Corporate insiders own 6.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen raised CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. JPMorgan Chase & Co. lifted their price target on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Mizuho dropped their price target on shares of CAVA Group from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of CAVA Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Finally, Stifel Nicolaus raised their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

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.