FNY Investment Advisers LLC Has $560,000 Holdings in CAVA Group, Inc. $CAVA

FNY Investment Advisers LLC raised its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 177.6% in the third quarter, HoldingsChannel reports. The fund owned 9,281 shares of the company’s stock after acquiring an additional 5,938 shares during the period. FNY Investment Advisers LLC’s holdings in CAVA Group were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors increased its stake in shares of CAVA Group by 105.4% during the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after purchasing an additional 2,169,553 shares during the period. William Blair Investment Management LLC bought a new stake in CAVA Group in the 3rd quarter valued at $114,098,000. Alliancebernstein L.P. boosted its stake in CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares during the period. Capital Research Global Investors grew its holdings in CAVA Group by 28.5% in the 3rd quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock valued at $400,801,000 after buying an additional 1,469,758 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in CAVA Group by 58.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,146,502 shares of the company’s stock valued at $129,670,000 after buying an additional 794,547 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Benchmark raised CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Johnson Rice set a $72.00 price target on shares of CAVA Group in a research note on Monday, January 5th. Argus reaffirmed a “hold” rating on shares of CAVA Group in a research report on Friday, February 27th. Wolfe Research initiated coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.04.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the sale, the insider owned 332,205 shares in the company, valued at $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of the business’s stock in a transaction 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 sale, the chief financial officer directly owned 231,934 shares in the company, valued at approximately $14,412,378.76. The trade was a 1.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 39,055 shares of company stock worth $2,572,303 over the last 90 days. Insiders own 6.80% of the company’s stock.

CAVA Group Trading Down 1.7%

Shares of NYSE CAVA opened at $88.96 on Thursday. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 164.75, a PEG ratio of 7.79 and a beta of 2.16. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The stock has a 50-day moving average price of $71.77 and a two-hundred day moving average price of $62.92.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.