93,661 Shares in CAVA Group, Inc. $CAVA Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 93,661 shares of the company’s stock, valued at approximately $7,351,000.

Other large investors have also added to or reduced their stakes in the company. Bison Wealth LLC bought a new stake in CAVA Group in the fourth quarter worth about $208,000. Goldman Sachs Group Inc. grew its position in shares of CAVA Group by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after acquiring an additional 75,828 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CAVA Group by 17.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after purchasing an additional 34,860 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of CAVA Group by 9.3% during the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after purchasing an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of CAVA Group by 20.3% in the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock worth $772,000 after purchasing an additional 1,549 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CAVA shares. Robert W. Baird upgraded CAVA Group to a “strong-buy” rating in a research note on Monday, August 24th. Morgan Stanley upgraded CAVA Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, July 15th. Guggenheim dropped their price target on CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Argus set a $92.00 price target on CAVA Group in a research note on Friday, May 22nd. Finally, Stifel Nicolaus increased their price target on CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the transaction, the insider owned 98,490 shares in the company, valued at $8,864,100. This trade represents a 11.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brett Schulman sold 33,174 shares of CAVA Group stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $2,966,750.82. Following the transaction, the chief executive officer directly owned 798,669 shares of the company’s stock, valued at $71,424,968.67. The trade was a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 67,512 shares of company stock valued at $6,050,417 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

CAVA Group Trading Down 7.0%

Shares of CAVA stock opened at $61.13 on Wednesday. The firm’s 50 day moving average is $69.35 and its 200 day moving average is $77.29. The stock has a market capitalization of $7.14 billion, a P/E ratio of 111.15, a PEG ratio of 5.16 and a beta of 1.74. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The business had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. During the same period in the previous year, the business earned $0.16 EPS. CAVA Group’s revenue was up 31.3% compared to the same quarter last year. On average, equities analysts predict that CAVA Group, Inc. will post 0.54 EPS for the current year.

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.