Wellington Management Group LLP Has $126 Million Stake in CAVA Group, Inc. $CAVA

Wellington Management Group LLP lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 76.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,605,508 shares of the company’s stock after purchasing an additional 697,699 shares during the period. Wellington Management Group LLP’s holdings in CAVA Group were worth $126,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new position in shares of CAVA Group in the second quarter worth about $27,000. FNY Investment Advisers LLC acquired a new position in shares of CAVA Group during the second quarter valued at $31,000. Philadelphia Investment Partners LLC bought a new position in CAVA Group in the second quarter valued at about $33,000. Los Angeles Capital Management LLC acquired a new stake in CAVA Group in the fourth quarter worth about $25,000. Finally, TD Private Client Wealth LLC raised its holdings in CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAVA. KeyCorp reduced their price objective on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Sanford C. Bernstein restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, August 12th. UBS Group raised CAVA Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $90.00 in a research note on Wednesday, June 10th. Freedom Capital upgraded CAVA Group to a “hold” rating in a report on Wednesday, July 1st. Finally, Argus set a $92.00 target price on CAVA Group in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CAVA Group Stock Down 7.0%

NYSE CAVA opened at $61.13 on Wednesday. The firm’s 50 day moving average is $69.35 and its 200-day moving average is $77.29. The company has a market capitalization of $7.14 billion, a PE ratio of 111.15, a price-to-earnings-growth ratio of 5.16 and a beta of 1.74. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

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

Insider Activity at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the sale, the insider owned 98,490 shares of the company’s stock, valued at $8,864,100. This trade represents a 11.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the transaction, the insider directly owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. This trade represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 67,512 shares of company stock worth $6,050,417 in the last three months. 6.70% of the stock is owned by company insiders.

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.