Public Employees Retirement System of Ohio Has $5.86 Million Stock Position in CAVA Group, Inc. $CAVA

Public Employees Retirement System of Ohio lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 141.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,397 shares of the company’s stock after acquiring an additional 42,363 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of CAVA Group worth $5,857,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CAVA. DMC Group LLC lifted its position in shares of CAVA Group by 3.7% in the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after acquiring an additional 157 shares in the last quarter. Modern Wealth Management LLC boosted its stake in CAVA Group by 4.2% in the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after purchasing an additional 158 shares during the period. Bridgewater Associates LP grew its position in CAVA Group by 2.4% during the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after purchasing an additional 163 shares in the last quarter. Western Pacific Wealth Management LP grew its position in CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after purchasing an additional 179 shares in the last quarter. Finally, Allworth Financial LP raised its stake in CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson increased their target price on CAVA Group from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Robert W. Baird lifted their price target on CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price target on CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. TD Cowen reissued a “buy” rating and issued a $100.00 price objective on shares of CAVA Group in a research note on Thursday, June 4th. Finally, Wall Street Zen upgraded CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.04.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 757 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $67,698.51. Following the transaction, the chief accounting officer directly owned 6,848 shares of the company’s stock, valued at $612,416.64. This represents a 9.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of the company’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 directly owned 98,490 shares in the company, valued at approximately $8,864,100. The trade was a 11.25% decrease in their ownership of the stock. 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 91,747 shares of company stock valued at $7,970,838 in the last quarter. Corporate insiders own 6.70% of the company’s stock.

CAVA Group Stock Up 0.7%

CAVA stock opened at $65.02 on Wednesday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 125.05, a PEG ratio of 4.44 and a beta of 1.69. The company has a 50 day moving average of $76.06 and a two-hundred day moving average of $77.25.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, research analysts anticipate that CAVA Group, Inc. will post 0.54 EPS 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.