Zevenbergen Capital Investments LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 8,150 shares of the company’s stock, valued at approximately $571,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CAVA. Montag A & Associates Inc. bought a new stake in CAVA Group during the 4th quarter worth $26,000. CWM LLC grew its position in CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the last quarter. PSI Advisors LLC grew its position in 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 last quarter. Toth Financial Advisory Corp grew its position in CAVA Group by 197.6% during the 1st quarter. Toth Financial Advisory Corp now owns 1,506 shares of the company’s stock worth $105,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Glassman Wealth Services grew its position in CAVA Group by 314.6% during the 4th quarter. Glassman Wealth Services now owns 2,761 shares of the company’s stock worth $119,000 after acquiring an additional 2,095 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.
Insiders Place Their Bets
In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total value of $107,490,167.75. Following the transaction, the director now owns 5,000 shares in the company, valued at $436,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Brett Schulman sold 66,414 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $90.11, for a total value of $5,984,565.54. Following the transaction, the chief executive officer now owns 904,094 shares in the company, valued at $81,467,910.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 1,231,979 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $436,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,420,564 shares of company stock worth $124,690,835.
CAVA Group Price Performance
CAVA Group (NYSE:CAVA – Get Free Report) last announced its earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. The business’s revenue was up 27.5% on a year-over-year basis. Equities research analysts anticipate that CAVA Group, Inc. will post 0.35 earnings per share for the current year.
Wall Street Analysts Forecast Growth
CAVA has been the topic of a number of research reports. Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, April 10th. Jefferies Financial Group boosted 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. JPMorgan Chase & Co. lowered CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price objective on the stock. in a research report on Monday, June 3rd. Stifel Nicolaus increased their price target on CAVA Group from $66.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Morgan Stanley increased their price target on CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Six 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.33.
View Our Latest Report on CAVA
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.
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