Blueshift Asset Management LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Blueshift Asset Management LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,571 shares of the company’s stock, valued at approximately $566,000.

A number of other institutional investors have also recently made changes to their positions in the company. American International Group Inc. raised its position in shares of CAVA Group by 194.2% in the first quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after buying an additional 468 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in CAVA Group by 171.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 18,381 shares of the company’s stock valued at $1,288,000 after acquiring an additional 11,618 shares during the last quarter. California State Teachers Retirement System lifted its stake in CAVA Group by 54.6% in the 1st quarter. California State Teachers Retirement System now owns 35,861 shares of the company’s stock worth $2,512,000 after purchasing an additional 12,660 shares in the last quarter. Comerica Bank boosted its holdings in shares of CAVA Group by 14.9% during the 1st quarter. Comerica Bank now owns 12,105 shares of the company’s stock worth $848,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of CAVA Group in the first quarter valued at approximately $2,455,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $141.23 on Thursday. CAVA Group, Inc. has a 12 month low of $31.47 and a 12 month high of $172.43. The firm has a market capitalization of $16.18 billion, a P/E ratio of 307.02 and a beta of 3.23. The company’s fifty day moving average price is $134.81 and its 200 day moving average price is $108.31.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 EPS. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares in the company, valued at $182,980. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their price target on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Finally, Loop Capital raised their price target on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Eight research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $143.80.

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.