AFG Fiduciary Services Limited Partnership Boosts Stake in CAVA Group, Inc. (NYSE:CAVA)

AFG Fiduciary Services Limited Partnership raised its position in CAVA Group, Inc. (NYSE:CAVA) by 31.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,790 shares of the company’s stock after buying an additional 3,790 shares during the period. CAVA Group accounts for 0.5% of AFG Fiduciary Services Limited Partnership’s investment portfolio, making the stock its 21st biggest holding. AFG Fiduciary Services Limited Partnership’s holdings in CAVA Group were worth $1,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its position in shares of CAVA Group by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock valued at $2,355,000 after acquiring an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in shares of CAVA Group during the 1st quarter valued at approximately $3,213,000. Swiss National Bank bought a new position in shares of CAVA Group during the 4th quarter valued at approximately $1,926,000. Stephens Inc. AR bought a new position in shares of CAVA Group during the 4th quarter valued at approximately $1,014,000. Finally, Cetera Investment Advisers bought a new position in shares of CAVA Group during the 1st quarter valued at approximately $2,455,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $90.00 to $110.00 in a research report on Thursday. Barclays raised their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Loop Capital raised their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

CAVA Group Trading Up 2.9 %

Shares of CAVA Group stock traded up $3.17 on Friday, hitting $114.04. 2,956,045 shares of the company traded hands, compared to its average volume of 2,833,452. The firm’s 50-day simple moving average is $92.21 and its 200 day simple moving average is $78.10. The company has a market cap of $13.00 billion, a P/E ratio of 278.12 and a beta of 3.27. CAVA Group, Inc. has a 12-month low of $29.05 and a 12-month high of $128.18.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. Analysts predict that CAVA Group, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $436,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald M. Shaich sold 1,231,979 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at approximately $436,250. The disclosure for this sale can be found here. Insiders have sold a total of 1,725,558 shares of company stock worth $163,000,919 in 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.