Algert Global LLC Invests $426,000 in CAVA Group, Inc. (NYSE:CAVA)

Algert Global LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,594 shares of the company’s stock, valued at approximately $426,000.

Other large investors also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group in the 2nd quarter valued at $28,000. CWM LLC raised its holdings in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group in the second quarter worth about $36,000. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the second quarter valued at about $37,000. Finally, Mather Group LLC. bought a new stake in shares of CAVA Group in the 2nd quarter valued at about $45,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA stock opened at $126.00 on Tuesday. The company has a market capitalization of $14.37 billion, a P/E ratio of 307.32 and a beta of 3.33. CAVA Group, Inc. has a 12 month low of $29.66 and a 12 month high of $131.82. The firm’s fifty day simple moving average is $110.50 and its 200-day simple moving average is $90.08.

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. The company had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

CAVA has been the subject of a number of analyst reports. TD Securities increased their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group started coverage on CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective for the company. Robert W. Baird increased their price target on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus raised their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Wedbush upped 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. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $115.64.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated 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 directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084.

CAVA Group Company 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.