GAMMA Investing LLC Boosts Position in CAVA Group, Inc. (NYSE:CAVA)

GAMMA Investing LLC boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 17,386.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,794 shares of the company’s stock after acquiring an additional 73,372 shares during the quarter. GAMMA Investing LLC owned 0.06% of CAVA Group worth $6,377,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CAVA. Arcadia Investment Management Corp MI bought a new stake in CAVA Group during the fourth quarter valued at about $25,000. Allworth Financial LP grew its holdings in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC grew its holdings in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc bought a new stake in CAVA Group during the first quarter valued at about $31,000. Finally, Whittier Trust Co. grew its holdings in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $78.31 on Tuesday. The business’s 50 day moving average price is $87.61 and its 200-day moving average price is $105.11. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 170.24 and a beta of 2.77.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CAVA shares. Barclays dropped their price objective on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Citigroup upped their price objective on CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. UBS Group dropped their price objective on CAVA Group from $125.00 to $112.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Robert W. Baird upped their price objective on CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now owns 353,271 shares of the company’s stock, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kelly Costanza sold 10,243 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the sale, the insider now directly owns 125,347 shares in the company, valued at $10,858,810.61. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

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.