Trillium Asset Management LLC Purchases Shares of 41,779 CAVA Group, Inc. $CAVA

Trillium Asset Management LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, HoldingsChannel reports. The institutional investor purchased 41,779 shares of the company’s stock, valued at approximately $3,279,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. NWK Group Inc. bought a new position in shares of CAVA Group during the second quarter worth about $4,287,000. NewEdge Wealth LLC bought a new stake in CAVA Group in the 2nd quarter valued at approximately $502,000. Prime Capital Management Co Ltd bought a new stake in CAVA Group in the 2nd quarter valued at approximately $80,962,000. First National Bank of Omaha acquired a new position in CAVA Group during the 2nd quarter worth approximately $5,795,000. Finally, BlackRock Inc. acquired a new position in CAVA Group during the 2nd quarter worth approximately $757,013,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

Shares of CAVA stock opened at $72.28 on Friday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 131.42, a PEG ratio of 4.93 and a beta of 1.74. The firm’s 50-day moving average is $72.34 and its 200-day moving average is $77.19.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.CAVA Group’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. Sell-side analysts predict that CAVA Group, Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Robert W. Baird raised their target price on shares of CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Guggenheim lowered their price target on shares of CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling

In other news, CAO Adam David Phillips sold 757 shares of CAVA Group stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $67,698.51. Following the completion of the transaction, the chief accounting officer directly owned 6,848 shares in the company, valued at approximately $612,416.64. The trade was a 9.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director directly owned 3,074 shares in the company, valued at $276,660. The trade was a 76.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 67,512 shares of company stock valued at $6,050,417. Insiders own 6.70% of the company’s stock.

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.