Amalgamated Bank Acquires 2,210 Shares of CAVA Group, Inc. (NYSE:CAVA)

Amalgamated Bank grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 76.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,098 shares of the company’s stock after buying an additional 2,210 shares during the quarter. Amalgamated Bank’s holdings in CAVA Group were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in CAVA Group in the second quarter worth approximately $914,000. Renaissance Technologies LLC grew its stake in CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in CAVA Group in the second quarter worth approximately $341,000. Dimensional Fund Advisors LP grew its stake in CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after purchasing an additional 184 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its stake in CAVA Group by 35.7% in the second quarter. Thoroughbred Financial Services LLC now owns 35,352 shares of the company’s stock worth $3,278,000 after purchasing an additional 9,304 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several research analyst reports. Argus increased their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group assumed coverage on CAVA Group in a report on Friday. They set a “neutral” rating and a $135.00 target price for the company. TD Securities upped their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Robert W. Baird upped their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.64.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock valued at $38,310,084 in the last ninety days.

CAVA Group Price Performance

NYSE CAVA opened at $123.76 on Monday. The stock’s fifty day moving average price is $105.19 and its 200 day moving average price is $87.42. CAVA Group, Inc. has a 1 year low of $29.05 and a 1 year high of $131.82. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 301.85 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s revenue was up 35.1% on a year-over-year basis. Research analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.