Good Life Advisors LLC Takes $256,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Good Life Advisors LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,066 shares of the company’s stock, valued at approximately $256,000.

Several other large investors have also modified their holdings of CAVA. Capital Research Global Investors boosted its position in CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Vanguard Group Inc. boosted its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after acquiring an additional 492,667 shares during the last quarter. Federated Hermes Inc. boosted its position in CAVA Group by 9.7% during the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after acquiring an additional 93,635 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after acquiring an additional 451,800 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock valued at $38,310,084. Insiders own 12.10% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA opened at $135.34 on Monday. CAVA Group, Inc. has a 12-month low of $29.66 and a 12-month high of $135.86. The business’s fifty day moving average price is $119.49 and its 200 day moving average price is $94.20. The stock has a market capitalization of $15.43 billion, a PE ratio of 330.10 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. During the same period in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was up 35.1% on a year-over-year basis. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. TD Securities lifted their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Loop Capital boosted their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Finally, UBS Group assumed coverage on CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.64.

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.