CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 74.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,354 shares of the company’s stock after purchasing an additional 8,660 shares during the period. Victory Capital Management Inc.’s holdings in CAVA Group were worth $2,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares during the period. GAMMA Investing LLC boosted its stake in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the period. Dimensional Fund Advisors LP boosted its stake in CAVA Group by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after buying an additional 184 shares during the period. Jaffetilchin Investment Partners LLC boosted its stake in CAVA Group by 4.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after buying an additional 278 shares during the period. Finally, Jamison Private Wealth Management Inc. purchased a new position in CAVA Group during the second quarter worth about $28,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Trading Up 0.1 %

CAVA stock opened at $145.00 on Friday. The company’s 50 day moving average is $133.66 and its two-hundred day moving average is $106.69. The stock has a market cap of $16.61 billion, a P/E ratio of 314.85 and a beta of 3.23. CAVA Group, Inc. has a twelve month low of $31.47 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 of the company’s stock, valued at $53,432,881.42. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 334,994 shares of company stock valued at $42,543,534. 12.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CAVA. Piper Sandler increased their target price on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Citigroup raised their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Jefferies Financial Group raised their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Loop Capital raised their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

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.