ABN Amro Investment Solutions Grows Stock Holdings in CAVA Group, Inc. $CAVA

ABN Amro Investment Solutions grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 262.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,626 shares of the company’s stock after purchasing an additional 32,327 shares during the period. ABN Amro Investment Solutions’ holdings in CAVA Group were worth $2,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAVA. Global Retirement Partners LLC purchased a new position in shares of CAVA Group during the second quarter worth $463,000. Y Intercept Hong Kong Ltd lifted its stake in CAVA Group by 271.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after acquiring an additional 17,294 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in CAVA Group by 1,846,775.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock worth $6,222,000 after acquiring an additional 73,871 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in CAVA Group during the 2nd quarter valued at about $57,824,000. Finally, Renaissance Capital LLC grew its position in CAVA Group by 42.7% in the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock valued at $6,387,000 after acquiring an additional 31,651 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Down 0.2%

Shares of NYSE:CAVA opened at $63.48 on Monday. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $134.73. The company’s 50 day moving average is $62.68 and its two-hundred day moving average is $62.50. The company has a market cap of $7.36 billion, a PE ratio of 54.72, a P/E/G ratio of 4.67 and a beta of 2.41.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup increased their price target on shares of CAVA Group from $60.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial increased their target price on shares of CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $68.00 price target on shares of CAVA Group in a research report on Wednesday, November 5th. Argus dropped their price target on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Stifel Nicolaus set a $75.00 price objective on CAVA Group in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.08.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 1,707 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $106,072.98. Following the sale, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This trade represents a 1.41% 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. Also, CFO Tricia K. Tolivar sold 2,404 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $149,384.56. Following the sale, the chief financial officer directly owned 231,934 shares of the company’s stock, valued at $14,412,378.76. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,843 shares of company stock valued at $2,764,355 over the last ninety days. Company insiders own 12.10% of the company’s stock.

CAVA Group Company Profile

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.