SkyOak Wealth LLC Takes $334,000 Position in CAVA Group, Inc. (NYSE:CAVA)

SkyOak Wealth LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,599 shares of the company’s stock, valued at approximately $334,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Swiss National Bank bought a new position in CAVA Group during the fourth quarter worth $1,926,000. Charles Schwab Investment Management Inc. lifted its position in shares of CAVA Group by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 124,035 shares of the company’s stock worth $5,331,000 after acquiring an additional 2,287 shares during the period. Jump Financial LLC raised its stake in shares of CAVA Group by 26.9% in the fourth quarter. Jump Financial LLC now owns 8,900 shares of the company’s stock valued at $383,000 after purchasing an additional 1,889 shares in the last quarter. Principal Financial Group Inc. bought a new position in CAVA Group in the fourth quarter worth $2,518,000. Finally, Janney Montgomery Scott LLC boosted its stake in CAVA Group by 46.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,947 shares of the company’s stock worth $986,000 after buying an additional 7,263 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Theodoros Xenohristos sold 98,490 shares of the business’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 in the company, valued at $53,432,881.42. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Tricia K. Tolivar sold 5,949 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at approximately $28,114,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 400,943 shares of company stock worth $47,062,986.

CAVA Group Trading Down 0.3 %

CAVA stock opened at $122.45 on Wednesday. The stock has a market cap of $13.96 billion, a PE ratio of 298.66 and a beta of 3.34. The stock has a 50-day moving average price of $98.36 and a two-hundred day moving average price of $83.93. CAVA Group, Inc. has a 1 year low of $29.05 and a 1 year high of $128.18.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $219.47 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Argus raised their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Wedbush raised their price target on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Loop Capital upped their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Barclays increased their price objective on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $111.58.

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.