SG Americas Securities LLC Acquires 13,977 Shares of CAVA Group, Inc. $CAVA

SG Americas Securities LLC increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 74.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,817 shares of the company’s stock after purchasing an additional 13,977 shares during the quarter. SG Americas Securities LLC’s holdings in CAVA Group were worth $1,926,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CAVA. Cornerstone Planning Group LLC raised its position in shares of CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after buying an additional 356 shares during the last quarter. Toth Financial Advisory Corp boosted its position in shares of CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in shares of CAVA Group by 347.8% during the fourth 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 last quarter. Western Pacific Wealth Management LP purchased a new position in CAVA Group during the third quarter valued at $33,000. Finally, CNB Bank increased its holdings in CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 422 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CAVA shares. Wolfe Research started coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 price target on the stock. Johnson Rice set a $72.00 target price on CAVA Group in a report on Monday, January 5th. UBS Group boosted their target price on CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Argus restated a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Finally, Guggenheim assumed coverage on CAVA Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.92.

CAVA Group Trading Down 0.1%

Shares of NYSE:CAVA opened at $79.51 on Monday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The company has a 50-day moving average price of $74.59 and a 200 day moving average price of $64.29. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 147.25, a PEG ratio of 6.79 and a beta of 2.03.

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

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 1,039 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 $64,563.46. Following the transaction, the insider owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 1,074 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $72,398.34. Following the sale, the insider owned 50,116 shares in the company, valued at $3,378,319.56. The trade was a 2.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is currently owned by corporate insiders.

About CAVA Group

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.