Virtu Financial LLC Invests $914,000 in CAVA Group, Inc. (NYSE:CAVA)

Virtu Financial LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,853 shares of the company’s stock, valued at approximately $914,000.

A number of other hedge funds have also added to or reduced their stakes in CAVA. Vanguard Group Inc. grew its position in shares of CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. Capital Research Global Investors increased its stake in CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after purchasing an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares during the period. Artemis Investment Management LLP bought a new position in shares of CAVA Group during the 1st quarter worth about $38,225,000. Finally, Lord Abbett & CO. LLC grew its stake in shares of CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after buying an additional 492,667 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Trading Up 1.6 %

Shares of CAVA opened at $124.43 on Thursday. The stock has a 50 day moving average of $99.15 and a 200 day moving average of $84.21. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 303.49 and a beta of 3.34. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $128.18.

CAVA Group (NYSE:CAVA) last released 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. The company had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. 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 business posted $0.21 EPS. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of 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 at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at $28,114,272. The disclosure for this sale can be found here. Insiders have sold a total of 400,943 shares of company stock worth $47,062,986 over the last three months.

Analyst Ratings Changes

Several brokerages have issued reports on CAVA. TD Cowen reiterated a “buy” rating and issued a $115.00 price target on shares of CAVA Group in a report on Thursday, September 12th. Robert W. Baird increased their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Piper Sandler lowered shares of CAVA Group from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Stifel Nicolaus upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Wedbush lifted their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group 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.