Ameritas Advisory Services LLC Increases Stake in CAVA Group, Inc. $CAVA

Ameritas Advisory Services LLC lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 42,785.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,166 shares of the company’s stock after acquiring an additional 35,084 shares during the quarter. Ameritas Advisory Services LLC’s holdings in CAVA Group were worth $2,124,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in CAVA Group by 5.0% in the second quarter. State Street Corp now owns 2,543,335 shares of the company’s stock worth $214,225,000 after purchasing an additional 122,163 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CAVA Group by 16.2% in the second quarter. Geode Capital Management LLC now owns 1,622,898 shares of the company’s stock worth $136,715,000 after buying an additional 226,785 shares during the period. Alliancebernstein L.P. lifted its stake in shares of CAVA Group by 58.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,353,058 shares of the company’s stock worth $113,968,000 after acquiring an additional 500,367 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in CAVA Group by 108.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,351,955 shares of the company’s stock valued at $113,875,000 after acquiring an additional 703,020 shares during the period. Finally, Franklin Resources Inc. grew its position in CAVA Group by 8.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,082,183 shares of the company’s stock valued at $91,152,000 after acquiring an additional 85,834 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $63.48 on Friday. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $134.73. The business has a fifty day moving average price of $62.68 and a 200 day moving average price of $62.85. The stock has a market capitalization of $7.36 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 4.67 and a beta of 2.41.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada set a $70.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. Morgan Stanley lowered their price objective on shares of CAVA Group from $86.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. The Goldman Sachs Group restated 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 lifted their price target on shares of CAVA Group from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler lowered their price target on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.08.

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 shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the sale, the insider directly owned 332,205 shares in the company, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 42,843 shares of company stock valued at $2,764,355. 6.80% 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.