27,000 Shares in CAVA Group, Inc. $CAVA Purchased by Bullseye Asset Management LLC

Bullseye Asset Management LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,000 shares of the company’s stock, valued at approximately $1,631,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares during the last quarter. Western Pacific Wealth Management LP purchased a new position in CAVA Group in the third quarter valued at approximately $33,000. CNB Bank grew its holdings in CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after purchasing an additional 422 shares during the period. Finally, Knuff & Co LLC bought a new position in CAVA Group during the third quarter valued at $47,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $82.03 on Friday. The company’s fifty day moving average price is $70.41 and its 200-day moving average price is $62.51. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 151.91, a PEG ratio of 6.91 and a beta of 2.16. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $101.50.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 1,074 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $72,398.34. Following the transaction, the insider directly owned 50,116 shares in the company, valued at approximately $3,378,319.56. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kelly Costanza sold 1,707 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 $106,072.98. Following the transaction, the insider directly owned 119,139 shares in the company, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 39,055 shares of company stock worth $2,572,303. Company insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CAVA shares. TD Cowen boosted their target price on CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Piper Sandler lifted their price objective on CAVA Group from $71.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. DA Davidson assumed coverage on CAVA Group in a research note on Friday, March 6th. They issued a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley upped their price objective on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Finally, Mizuho increased their target price 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.04.

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.