Quantbot Technologies LP Buys Shares of 87,939 CAVA Group, Inc. (NYSE:CAVA)

Quantbot Technologies LP acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 87,939 shares of the company’s stock, valued at approximately $6,160,000. Quantbot Technologies LP owned about 0.08% of CAVA Group as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CAVA. Montag A & Associates Inc. bought a new stake in CAVA Group in the 4th quarter valued at $26,000. CWM LLC boosted its holdings in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after acquiring an additional 254 shares in the last quarter. PSI Advisors LLC grew its position in CAVA Group by 1,133.3% during the 1st quarter. PSI Advisors LLC now owns 925 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in CAVA Group by 197.6% in the 1st quarter. Toth Financial Advisory Corp now owns 1,506 shares of the company’s stock worth $105,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Glassman Wealth Services raised its position in CAVA Group by 314.6% in the fourth quarter. Glassman Wealth Services now owns 2,761 shares of the company’s stock valued at $119,000 after purchasing an additional 2,095 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 1.1 %

CAVA traded down $0.96 on Friday, hitting $84.23. The company’s stock had a trading volume of 3,444,555 shares, compared to its average volume of 2,640,112. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $98.69. The company’s 50 day simple moving average is $86.74 and its 200-day simple moving average is $66.75. The firm has a market cap of $9.60 billion and a P/E ratio of 205.44.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.08. The business had revenue of $259.01 million for the quarter, compared to analysts’ expectations of $246.02 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. CAVA Group’s quarterly revenue was up 27.5% compared to the same quarter last year. Equities analysts predict that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CAVA has been the topic of several analyst reports. Citigroup upped their target price on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Stifel Nicolaus lifted their target price on shares of CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. TD Cowen upped their price target on shares of CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Wedbush lifted their price objective on CAVA Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.33.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kenneth Robert Bertram sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the transaction, the insider now owns 67,005 shares in the company, valued at $6,384,236.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now owns 297,600 shares of the company’s stock, valued at $28,114,272. The disclosure for this sale can be found here. Insiders have sold 1,420,564 shares of company stock worth $124,690,835 over the last 90 days.

CAVA Group Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.