Quantbot Technologies LP Invests $848,000 in CAVA Group, Inc. $CAVA

Quantbot Technologies LP purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,811 shares of the company’s stock, valued at approximately $848,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CAVA. Modern Wealth Management LLC lifted its holdings in CAVA Group by 4.2% during the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after buying an additional 158 shares in the last quarter. Bridgewater Associates LP boosted its position in CAVA Group by 2.4% in the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock valued at $401,000 after buying an additional 163 shares during the last quarter. Western Pacific Wealth Management LP increased its stake in shares of CAVA Group by 32.5% in the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock valued at $43,000 after buying an additional 179 shares during the period. Allworth Financial LP raised its position in shares of CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after acquiring an additional 237 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of CAVA Group by 18.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock worth $92,000 after acquiring an additional 241 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAVA shares. BMO Capital Markets set a $100.00 price target on CAVA Group in a report on Wednesday, May 20th. Morgan Stanley raised shares of CAVA Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, July 15th. Barclays lifted their price target on shares of CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Telsey Advisory Group boosted their price target on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of CAVA Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Activity

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the sale, the insider directly owned 98,490 shares in the company, valued at approximately $8,864,100. This trade represents a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director owned 3,074 shares in the company, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 67,512 shares of company stock valued at $6,050,417. 6.70% of the stock is currently owned by company insiders.

CAVA Group Trading Down 2.2%

NYSE CAVA opened at $67.75 on Thursday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The stock has a 50-day simple moving average of $70.87 and a 200 day simple moving average of $77.42. The company has a market capitalization of $7.91 billion, a PE ratio of 123.18, a P/E/G ratio of 4.72 and a beta of 1.74.

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

CAVA Group 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.