CAVA Group, Inc. $CAVA Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 20.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,706 shares of the company’s stock after buying an additional 17,600 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CAVA Group were worth $6,265,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in CAVA Group during the second quarter valued at $463,000. Valeo Financial Advisors LLC acquired a new stake in CAVA Group during the 2nd quarter worth about $57,824,000. Renaissance Capital LLC raised its stake in shares of CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock valued at $6,387,000 after buying an additional 31,651 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of CAVA Group by 57.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock valued at $13,441,000 after buying an additional 81,393 shares during the period. Finally, Keybank National Association OH purchased a new stake in shares of CAVA Group in the second quarter worth about $543,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Down 4.8%

CAVA opened at $78.49 on Tuesday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $101.50. The firm has a market capitalization of $9.13 billion, a PE ratio of 145.35, a PEG ratio of 7.10 and a beta of 2.41. The firm’s 50-day moving average price is $66.79 and its 200 day moving average price is $61.69.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Adam David Phillips sold 774 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $48,096.36. Following the completion of the transaction, the chief accounting officer directly owned 10,435 shares in the company, valued at approximately $648,430.90. This represents a 6.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the transaction, the insider directly owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein raised their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. UBS Group increased their price target on shares of CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Johnson Rice set a $72.00 price target on shares of CAVA Group in a research report on Monday, January 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $68.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Finally, TD Cowen increased their target price on shares of CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.45.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.