Advisor Resource Council Buys New Position in CAVA Group, Inc. (NYSE:CAVA)

Advisor Resource Council purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,630 shares of the company’s stock, valued at approximately $326,000.

Several other institutional investors have also added to or reduced their stakes in the business. Concurrent Investment Advisors LLC purchased a new stake in CAVA Group during the 3rd quarter valued at about $301,000. Sentry Investment Management LLC raised its position in CAVA Group by 16.9% during the 3rd quarter. Sentry Investment Management LLC now owns 4,872 shares of the company’s stock worth $603,000 after buying an additional 704 shares during the last quarter. Lansing Street Advisors acquired a new stake in CAVA Group during the 3rd quarter valued at approximately $367,000. Farther Finance Advisors LLC boosted its holdings in shares of CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after acquiring an additional 113 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC increased its stake in shares of CAVA Group by 175.9% in the third quarter. Gladstone Institutional Advisory LLC now owns 6,056 shares of the company’s stock worth $750,000 after acquiring an additional 3,861 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $141.38 on Friday. CAVA Group, Inc. has a 1 year low of $29.66 and a 1 year high of $141.62. The firm has a market capitalization of $16.16 billion, a PE ratio of 382.11 and a beta of 3.23. The business’s 50 day moving average price is $128.08 and its 200-day moving average price is $100.88.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $233.50 million during 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 company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, analysts expect that CAVA Group, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on CAVA shares. Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. JPMorgan Chase & Co. raised their target price on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. TD Cowen lifted their price target on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Barclays upped their price objective on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Citigroup boosted their target price on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.36.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,994 shares of company stock worth $38,310,084. Insiders own 12.10% of the company’s stock.

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.