Advisor Resource Council Buys New Stake in CAVA Group, Inc. (NYSE:CAVA)

Advisor Resource Council purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the third quarter, Holdings Channel reports. The fund purchased 2,630 shares of the company’s stock, valued at approximately $326,000.

A number of other large investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new stake in shares of CAVA Group in the 3rd quarter valued at $301,000. Sentry Investment Management LLC lifted its position in shares of CAVA Group by 16.9% during the third quarter. Sentry Investment Management LLC now owns 4,872 shares of the company’s stock worth $603,000 after purchasing an additional 704 shares in the last quarter. Lansing Street Advisors acquired a new position in shares of CAVA Group in the third quarter valued at approximately $367,000. Farther Finance Advisors LLC lifted its holdings in CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its position in CAVA Group by 175.9% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,056 shares of the company’s stock valued at $750,000 after buying an additional 3,861 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,994 shares of company stock valued at $38,310,084. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CAVA shares. Argus lifted their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. TD Securities lifted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their price target on CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. UBS Group assumed coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective for the company. Finally, Barclays raised their target price on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.36.

CAVA Group Price Performance

CAVA opened at $141.38 on Friday. The business has a 50 day simple moving average of $128.08 and a 200-day simple moving average of $100.88. CAVA Group, Inc. has a 12 month low of $29.66 and a 12 month high of $141.62. The stock has a market capitalization of $16.16 billion, a P/E ratio of 382.11 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. During the same period in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. Research analysts anticipate that CAVA Group, Inc. will post 0.44 EPS for the current year.

CAVA Group Company 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.