Bullseye Asset Management LLC Increases Stock Position in CAVA Group, Inc. $CAVA

Bullseye Asset Management LLC increased its position in CAVA Group, Inc. (NYSE:CAVA) by 103.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,000 shares of the company’s stock after acquiring an additional 28,000 shares during the period. CAVA Group comprises approximately 1.7% of Bullseye Asset Management LLC’s holdings, making the stock its 24th largest position. Bullseye Asset Management LLC’s holdings in CAVA Group were worth $3,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in shares of CAVA Group during the 4th quarter valued at $25,000. Harbor Investment Advisory LLC lifted its holdings in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of CAVA Group during the 3rd quarter valued at $36,000. TD Private Client Wealth LLC lifted its holdings in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after buying an additional 325 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of CAVA Group by 115.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 347 shares during the period. 73.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAVA shares. KeyCorp increased their price target on CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Robert W. Baird increased their price target on CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Wolfe Research started coverage on CAVA Group in a report on Monday, March 9th. They set an “outperform” rating and a $93.00 price target on the stock. Benchmark increased their price target on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, DA Davidson increased their price target on CAVA Group from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.37.

CAVA Group Price Performance

NYSE:CAVA opened at $91.01 on Friday. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 175.02, a price-to-earnings-growth ratio of 6.24 and a beta of 1.70. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79. The business has a fifty day moving average price of $83.51 and a 200-day moving average price of $72.88.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million during 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 was up 32.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. On average, equities research analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Kelly Costanza sold 10,010 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 113,850 shares in the company, valued at $9,093,199.50. This represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the sale, the chief accounting officer owned 9,505 shares of the company’s stock, valued at $733,215.70. This trade represents a 35.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,235 shares of company stock worth $1,920,420 in the last three months. Corporate insiders own 6.70% of the company’s stock.

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.