Citigroup Inc. Increases Stock Holdings in CAVA Group, Inc. $CAVA

Citigroup Inc. increased its position in CAVA Group, Inc. (NYSE:CAVA) by 138.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 886,666 shares of the company’s stock after acquiring an additional 514,385 shares during the quarter. Citigroup Inc. owned about 0.76% of CAVA Group worth $53,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Prakash Investment Advisors LLC lifted its stake in CAVA Group by 20.9% in the 3rd quarter. Prakash Investment Advisors LLC now owns 3,475 shares of the company’s stock worth $210,000 after purchasing an additional 600 shares in the last quarter. Advisors Capital Management LLC increased its holdings in shares of CAVA Group by 12.2% in the third quarter. Advisors Capital Management LLC now owns 26,028 shares of the company’s stock worth $1,572,000 after purchasing an additional 2,836 shares during the period. Vanguard Group Inc. raised its position in shares of CAVA Group by 3.5% in the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock worth $564,590,000 after buying an additional 313,938 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in CAVA Group by 21.2% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 22,228 shares of the company’s stock valued at $1,343,000 after buying an additional 3,894 shares during the period. Finally, Fifth Third Bancorp grew its position in CAVA Group by 344.9% during the third quarter. Fifth Third Bancorp now owns 2,011 shares of the company’s stock worth $121,000 after buying an additional 1,559 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $68.36 on Tuesday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $108.98. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 58.93, a price-to-earnings-growth ratio of 5.15 and a beta of 2.41. The company has a fifty day moving average of $64.35 and a 200-day moving average of $61.64.

Insider Buying and Selling at CAVA Group

In other news, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the transaction, the insider directly owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 2,404 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the completion of the sale, the chief financial officer directly owned 231,934 shares of the company’s stock, valued at approximately $14,412,378.76. This trade represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 42,843 shares of company stock valued at $2,764,355. 12.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. Truist Financial upped their target price on CAVA Group from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho upped their price objective on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. UBS Group boosted their price target on shares of CAVA Group from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Morgan Stanley decreased their price target on shares of CAVA Group from $86.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.29.

CAVA Group 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.