Global Retirement Partners LLC Purchases Shares of 5,493 CAVA Group, Inc. $CAVA

Global Retirement Partners LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,493 shares of the company’s stock, valued at approximately $463,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vision Financial Markets LLC acquired a new position in shares of CAVA Group during the first quarter worth approximately $26,000. Dagco Inc. bought a new position in CAVA Group during the first quarter worth $27,000. Atlantic Union Bankshares Corp acquired a new position in CAVA Group during the 2nd quarter valued at $31,000. Brooklyn Investment Group raised its stake in CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after purchasing an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in CAVA Group in the 2nd quarter worth $38,000. Institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the transaction, the insider directly owned 51,143 shares in the company, valued at $2,592,950.10. The trade was a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is owned by corporate insiders.

CAVA Group Price Performance

CAVA Group stock opened at $49.01 on Friday. The business has a 50 day simple moving average of $56.81 and a 200 day simple moving average of $71.13. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $153.34. The company has a market capitalization of $5.68 billion, a PE ratio of 42.25, a price-to-earnings-growth ratio of 2.77 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of research analyst reports. TD Cowen cut their price objective on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Mizuho upgraded CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Bank of America decreased their price objective on CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Sanford C. Bernstein cut their target price on CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.75.

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.