Riverview Capital Advisers LLC Grows Holdings in CAVA Group, Inc. (NYSE:CAVA)

Riverview Capital Advisers LLC lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 86.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,872 shares of the company’s stock after buying an additional 19,898 shares during the period. CAVA Group makes up approximately 1.3% of Riverview Capital Advisers LLC’s portfolio, making the stock its 25th biggest holding. Riverview Capital Advisers LLC’s holdings in CAVA Group were worth $3,976,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CAVA. SkyOak Wealth LLC purchased a new position in shares of CAVA Group in the second quarter worth about $334,000. Blair William & Co. IL bought a new stake in shares of CAVA Group during the 2nd quarter valued at $10,193,000. Mercer Global Advisors Inc. ADV purchased a new position in CAVA Group during the 2nd quarter valued at about $257,000. Amalgamated Bank boosted its position in shares of CAVA Group by 76.5% in the second quarter. Amalgamated Bank now owns 5,098 shares of the company’s stock valued at $473,000 after acquiring an additional 2,210 shares during the period. Finally, Virtu Financial LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $914,000. 73.15% of the stock is currently owned by institutional investors.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. The disclosure for this sale can be found here. Insiders sold 400,943 shares of company stock worth $47,062,986 over the last quarter.

CAVA Group Stock Up 1.6 %

Shares of CAVA opened at $124.43 on Thursday. The business’s 50 day moving average price is $99.15 and its 200-day moving average price is $84.21. The stock has a market cap of $14.19 billion, a P/E ratio of 303.49 and a beta of 3.34. CAVA Group, Inc. has a 52 week low of $29.05 and a 52 week high of $128.18.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent analyst reports. Robert W. Baird boosted their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Barclays raised their price objective on CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Loop Capital boosted their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Finally, Citigroup raised their price target on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.