GoalVest Advisory LLC Acquires New Shares in CAVA Group, Inc. $CAVA

GoalVest Advisory LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,530 shares of the company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAVA. Gateway Investment Advisers LLC acquired a new stake in shares of CAVA Group in the third quarter worth $604,000. Rexford Capital Inc. raised its stake in shares of CAVA Group by 17.6% in the third quarter. Rexford Capital Inc. now owns 2,616 shares of the company’s stock valued at $158,000 after purchasing an additional 392 shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of CAVA Group during the 3rd quarter valued at about $33,000. Econ Financial Services Corp lifted its position in shares of CAVA Group by 186.3% during the 3rd quarter. Econ Financial Services Corp now owns 32,661 shares of the company’s stock worth $1,973,000 after buying an additional 21,253 shares during the period. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of CAVA Group by 7.1% during the third quarter. Miracle Mile Advisors LLC now owns 8,876 shares of the company’s stock valued at $536,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Performance

NYSE CAVA opened at $60.44 on Monday. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 52.11, a PEG ratio of 3.08 and a beta of 2.41. The business has a 50 day simple moving average of $53.15 and a 200 day simple moving average of $66.35. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $144.49.

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

Wall Street Analyst Weigh In

CAVA has been the topic of several research reports. Barclays reduced their price target on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley set a $86.00 target price on CAVA Group in a report on Wednesday, November 5th. Stifel Nicolaus set a $75.00 price target on CAVA Group in a research note on Wednesday, November 5th. TD Cowen cut their price target on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Argus decreased their price objective on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the completion of the transaction, the insider owned 51,143 shares in the company, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.10% of the company’s stock.

About CAVA Group

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.