Meridian Wealth Management LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Meridian Wealth Management LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,942 shares of the company’s stock, valued at approximately $241,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the period. Renaissance Technologies LLC increased its stake in shares of CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after buying an additional 451,800 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares during the last quarter. Eagle Asset Management Inc. boosted its position in CAVA Group by 233.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock valued at $49,415,000 after buying an additional 279,306 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in CAVA Group by 51.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after acquiring an additional 250,110 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAVA. UBS Group started coverage on shares of CAVA Group in a research note on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective for the company. TD Cowen upped their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital lifted their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. TD Securities upped their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Wedbush lifted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

CAVA Group Stock Down 1.7 %

Shares of CAVA opened at $142.56 on Tuesday. The stock has a market cap of $16.33 billion, a P/E ratio of 315.22 and a beta of 3.23. The business’s 50 day moving average price is $133.66 and its 200-day moving average price is $107.15. CAVA Group, Inc. has a 52 week low of $31.47 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.10% of the stock is owned by company insiders.

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.