Quantbot Technologies LP Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Quantbot Technologies LP bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 87,939 shares of the company’s stock, valued at approximately $6,160,000.

Several other institutional investors and hedge funds have also modified their holdings of CAVA. Montag A & Associates Inc. acquired a new stake in shares of CAVA Group in the 4th quarter valued at about $26,000. CWM LLC lifted its stake in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the last quarter. PSI Advisors LLC boosted its stake in shares of CAVA Group by 1,133.3% during the 1st quarter. PSI Advisors LLC now owns 925 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares during the period. Toth Financial Advisory Corp increased its holdings in shares of CAVA Group by 197.6% during the first quarter. Toth Financial Advisory Corp now owns 1,506 shares of the company’s stock worth $105,000 after purchasing an additional 1,000 shares during the period. Finally, Glassman Wealth Services lifted its position in shares of CAVA Group by 314.6% during the 4th quarter. Glassman Wealth Services now owns 2,761 shares of the company’s stock valued at $119,000 after acquiring an additional 2,095 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Down 1.1 %

CAVA traded down $0.96 on Friday, hitting $84.23. The company’s stock had a trading volume of 3,444,555 shares, compared to its average volume of 2,640,112. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $98.69. The company’s 50 day simple moving average is $86.74 and its 200-day simple moving average is $66.75. The firm has a market cap of $9.60 billion and a P/E ratio of 205.44.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $259.01 million for the quarter, compared to analysts’ expectations of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts predict that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the transaction, the insider now directly owns 67,005 shares in the company, valued at $6,384,236.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the sale, the insider now owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,420,564 shares of company stock worth $124,690,835.

Analyst Ratings Changes

Several analysts recently weighed in on CAVA shares. Jefferies Financial Group upped their price objective on CAVA Group from $72.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Morgan Stanley increased their target price on CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Robert W. Baird upped their price objective on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. TD Cowen lifted their target price on shares of CAVA Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Barclays boosted their target price on shares of CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $82.33.

About CAVA Group

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.