Signaturefd LLC Purchases 469 Shares of CAVA Group, Inc. (NYSE:CAVA)

Signaturefd LLC boosted its position in CAVA Group, Inc. (NYSE:CAVA) by 148.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 784 shares of the company’s stock after purchasing an additional 469 shares during the quarter. Signaturefd LLC’s holdings in CAVA Group were worth $68,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in shares of CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after acquiring an additional 266 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of CAVA Group during the first quarter valued at $31,000. Whittier Trust Co. increased its holdings in shares of 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 acquiring an additional 127 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of CAVA Group by 192.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company’s stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of CAVA Group by 60.3% during the fourth quarter. Harbour Investments Inc. now owns 505 shares of the company’s stock valued at $57,000 after acquiring an additional 190 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAVA has been the subject of several research analyst reports. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Wednesday, April 23rd. Bank of America lifted their price objective on CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. JPMorgan Chase & Co. reduced their price objective on CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, June 25th. TD Securities reiterated a “buy” rating and issued a $120.00 price objective on shares of CAVA Group in a report on Friday, May 16th. Finally, UBS Group reduced their price objective on CAVA Group from $125.00 to $112.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $115.06.

CAVA Group Stock Up 3.1%

CAVA stock opened at $90.10 on Wednesday. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The stock has a market cap of $10.42 billion, a P/E ratio of 75.09, a PEG ratio of 4.36 and a beta of 2.65. The business’s 50-day moving average price is $83.52 and its 200-day moving average price is $95.49.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm had revenue of $331.83 million for the quarter, compared to analysts’ expectations of $327.98 million. During the same period in the previous year, the firm earned $0.12 EPS. The business’s quarterly revenue was up 28.1% on a year-over-year basis. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jennifer Somers sold 2,861 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the transaction, the insider directly owned 137,048 shares of the company’s stock, valued at approximately $10,300,527.68. The trade was a 2.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Schulman sold 31,856 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $2,394,296.96. Following the sale, the chief executive officer directly owned 792,318 shares in the company, valued at $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,951 shares of company stock worth $5,409,027. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Company Profile

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.