Assetmark Inc. Purchases 46,801 Shares of CAVA Group, Inc. $CAVA

Assetmark Inc. boosted its position in CAVA Group, Inc. (NYSE:CAVA) by 33.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 187,270 shares of the company’s stock after purchasing an additional 46,801 shares during the period. Assetmark Inc. owned about 0.16% of CAVA Group worth $15,150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAVA. Los Angeles Capital Management LLC bought a new stake in CAVA Group in the fourth quarter valued at approximately $25,000. Harbor Investment Advisory LLC boosted its stake in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the period. Allworth Financial LP increased its holdings in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after acquiring an additional 237 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of CAVA Group by 115.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CAVA. Benchmark raised their price target on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 20th. Mizuho upped their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. KeyCorp increased their price objective on shares of CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Morgan Stanley upgraded shares of CAVA Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their target price on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.54.

CAVA Group Trading Down 0.1%

Shares of CAVA opened at $68.81 on Monday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The firm’s 50 day moving average is $77.98 and its 200-day moving average is $77.18. The stock has a market capitalization of $8.01 billion, a PE ratio of 132.33, a P/E/G ratio of 4.72 and a beta of 1.69.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Equities research analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 4,969 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the sale, the chief financial officer owned 234,931 shares of the company’s stock, valued at $21,009,879.33. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the director owned 3,074 shares in the company, valued at $276,660. The trade was a 76.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,747 shares of company stock worth $7,970,838 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.

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.