Natixis Advisors LLC Raises Holdings in CAVA Group, Inc. $CAVA

Natixis Advisors LLC lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 90.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 56,842 shares of the company’s stock after acquiring an additional 26,920 shares during the period. Natixis Advisors LLC’s holdings in CAVA Group were worth $3,336,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Rockline Wealth Management LLC purchased a new stake in shares of CAVA Group during the fourth quarter worth about $244,000. BNP Paribas Financial Markets grew its stake in shares of CAVA Group by 36.5% during the fourth quarter. BNP Paribas Financial Markets now owns 436,927 shares of the company’s stock worth $25,643,000 after acquiring an additional 116,783 shares during the last quarter. Norges Bank purchased a new stake in shares of CAVA Group during the fourth quarter worth about $50,278,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of CAVA Group during the fourth quarter worth about $103,000. Finally, Operose Advisors LLC grew its stake in shares of CAVA Group by 293.4% during the fourth quarter. Operose Advisors LLC now owns 2,388 shares of the company’s stock worth $140,000 after acquiring an additional 1,781 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In related news, insider Kelly Costanza sold 10,010 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.87, for a total value of $799,498.70. Following the sale, the insider owned 113,850 shares in the company, valued at $9,093,199.50. This represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total value of $721,259.00. Following the completion of the sale, the insider owned 327,882 shares in the company, valued at approximately $26,148,589.50. This represents a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 24,235 shares of company stock worth $1,920,420 over the last quarter. Insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CAVA shares. Piper Sandler boosted their price target on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. BNP Paribas Exane started coverage on CAVA Group in a research note on Monday, March 30th. They set a “neutral” rating and a $91.00 price target on the stock. Argus set a $92.00 price target on CAVA Group in a research note on Friday, May 22nd. Northcoast Research upgraded CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Mizuho boosted their price target on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.19.

CAVA Group Stock Up 3.6%

Shares of NYSE CAVA opened at $76.25 on Wednesday. The business’s 50 day moving average price is $83.07 and its 200 day moving average price is $72.21. The firm has a market cap of $8.88 billion, a P/E ratio of 146.64, a P/E/G ratio of 5.05 and a beta of 1.70. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.CAVA Group’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, research analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

CAVA Group 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.