Hood River Capital Management LLC Has $60.93 Million Holdings in CAVA Group, Inc. (NYSE:CAVA)

Hood River Capital Management LLC increased its position in CAVA Group, Inc. (NYSE:CAVA) by 5.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 656,870 shares of the company’s stock after purchasing an additional 32,493 shares during the period. CAVA Group comprises about 1.3% of Hood River Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Hood River Capital Management LLC owned 0.58% of CAVA Group worth $60,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at about $28,000. CWM LLC grew its position in CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group during the 2nd quarter valued at $37,000. Finally, Mather Group LLC. acquired a new stake in shares of CAVA Group during the 2nd quarter valued at $45,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the transaction, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The disclosure for this sale can be found here. Insiders sold a total of 310,943 shares of company stock valued at $38,872,086 over the last ninety days.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen reaffirmed a “buy” rating and issued a $115.00 target price on shares of CAVA Group in a research report on Thursday, September 12th. Argus raised their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays increased their price target on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Wedbush upped their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” 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 stock. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.58.

CAVA Group Stock Performance

NYSE CAVA opened at $128.79 on Monday. The stock has a 50-day simple moving average of $100.83 and a 200 day simple moving average of $85.36. CAVA Group, Inc. has a twelve month low of $29.05 and a twelve month high of $129.50. The stock has a market capitalization of $14.69 billion, a PE ratio of 314.12 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. CAVA Group’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

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.