CAVA Group, Inc. $CAVA Shares Acquired by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 96,953.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,024 shares of the company’s stock after acquiring an additional 97,923 shares during the period. Assetmark Inc.’s holdings in CAVA Group were worth $5,922,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of CAVA Group by 9.8% in the third quarter. Rhumbline Advisers now owns 276,491 shares of the company’s stock worth $16,703,000 after buying an additional 24,700 shares during the last quarter. Midwest Trust Co bought a new position in shares of CAVA Group during the third quarter worth about $1,941,000. Edgemoor Investment Advisors Inc. acquired a new position in CAVA Group in the third quarter worth about $1,207,000. Arista Wealth Management LLC raised its stake in CAVA Group by 45.1% during the third quarter. Arista Wealth Management LLC now owns 4,020 shares of the company’s stock valued at $243,000 after buying an additional 1,250 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in CAVA Group during the 3rd quarter worth approximately $210,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 0.4%

Shares of CAVA Group stock opened at $63.25 on Wednesday. The business has a fifty day simple moving average of $63.08 and a 200-day simple moving average of $62.18. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 54.53, a price-to-earnings-growth ratio of 4.67 and a beta of 2.41. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $134.73.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 21,650 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the completion of the sale, the chief executive officer owned 807,325 shares in the company, valued at approximately $54,421,778.25. This represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 2,404 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer owned 231,934 shares in the company, valued at approximately $14,412,378.76. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,843 shares of company stock valued at $2,764,355 in the last three months. Insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAVA. Truist Financial increased their price objective on shares of CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Mizuho upped their price objective on CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. TD Cowen reissued a “buy” rating on shares of CAVA Group in a report on Monday, January 5th. Telsey Advisory Group started coverage on shares of CAVA Group in a report on Friday, January 9th. They issued an “outperform” rating and a $85.00 price objective on the stock. Finally, KeyCorp reduced their target price on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $82.08.

About CAVA Group

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.