D.B. Root & Company LLC Acquires Shares of 8,291 CAVA Group, Inc. $CAVA

D.B. Root & Company LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,291 shares of the company’s stock, valued at approximately $651,000.

A number of other large investors also recently made changes to their positions in CAVA. BlackRock Inc. bought a new position in CAVA Group in the 2nd quarter valued at $757,013,000. Capital Research Global Investors lifted its stake in shares of CAVA Group by 27.2% during the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after buying an additional 1,805,174 shares in the last quarter. Capital International Investors boosted its holdings in CAVA Group by 15.5% in the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after buying an additional 656,581 shares during the period. Morgan Stanley grew its stake in CAVA Group by 33.7% in the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after buying an additional 835,628 shares in the last quarter. Finally, State Street Corp raised its holdings in CAVA Group by 1.3% during the 4th quarter. State Street Corp now owns 2,920,442 shares of the company’s stock valued at $171,401,000 after acquiring an additional 36,508 shares during the period. 73.15% of the stock is owned by institutional investors.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $73.64 on Monday. The company’s fifty day moving average price is $71.99 and its 200-day moving average price is $77.29. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 133.89, a PEG ratio of 5.07 and a beta of 1.75. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The firm’s revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.53 EPS for the current year.

Insider Transactions at CAVA Group

In related news, 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 completion of the sale, the director owned 3,074 shares in the company, valued at $276,660. The trade was a 76.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 4,969 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $444,377.67. Following the completion of the sale, the chief financial officer directly owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. This represents a 2.07% 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. In the last three months, insiders sold 67,512 shares of company stock worth $6,050,417. Company insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. DA Davidson decreased their price objective on CAVA Group from $84.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, August 12th. Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Stifel Nicolaus boosted their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, TD Cowen lowered their target price on shares of CAVA Group from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.44.

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.