Lombard Odier Asset Management USA Corp Takes $499,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Lombard Odier Asset Management USA Corp acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,385 shares of the company’s stock, valued at approximately $499,000.

Other hedge funds have also bought and sold shares of the company. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group during the 2nd quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in shares of CAVA Group during the second quarter valued at about $37,000. Mather Group LLC. purchased a new stake in shares of CAVA Group in the second quarter worth about $45,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of CAVA Group in the second quarter valued at approximately $46,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

CAVA stock opened at $128.79 on Monday. The company has a market capitalization of $14.69 billion, a PE ratio of 314.12 and a beta of 3.34. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $129.50. The company’s 50 day moving average price is $100.83 and its two-hundred day moving average price is $85.36.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAVA. TD Cowen reaffirmed a “buy” rating and set a $115.00 target price on shares of CAVA Group in a report on Thursday, September 12th. Barclays upped their price target on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Loop Capital lifted their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Argus upped their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Stifel Nicolaus lifted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.58.

Insider Activity

In related news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated 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 owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 310,943 shares of company stock valued at $38,872,086.

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.