Bessemer Group Inc. Has $328,000 Holdings in CAVA Group, Inc. $CAVA

Bessemer Group Inc. decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 67.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,052 shares of the company’s stock after selling 8,422 shares during the quarter. Bessemer Group Inc.’s holdings in CAVA Group were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CAVA. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC raised its position in CAVA Group by 118.2% during the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 325 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after purchasing an additional 347 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of CAVA Group by 53.5% in the 4th quarter. Advisors Asset Management Inc. now owns 694 shares of the company’s stock valued at $41,000 after purchasing an additional 242 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. KeyCorp upped their price objective on CAVA Group from $95.00 to $105.00 and gave the stock 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 price target for the company from $86.00 to $90.00 in a research note on Wednesday, July 15th. Argus set a $92.00 price target on shares of CAVA Group in a report on Friday, May 22nd. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus raised their target price on shares of CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $93.54.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $62.12 on Friday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The firm has a market cap of $7.23 billion, a PE ratio of 119.46, a price-to-earnings-growth ratio of 4.27 and a beta of 1.69. The company has a 50 day simple moving average of $76.63 and a 200 day simple moving average of $77.19.

CAVA Group (NYSE:CAVA) last released 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 firm had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 3,252 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the completion of the sale, the insider owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director owned 3,074 shares of the company’s stock, valued at $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 91,747 shares of company stock worth $7,970,838. 6.70% of the stock is currently owned by insiders.

CAVA Group Company 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.