CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 9.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,315 shares of the company’s stock after purchasing an additional 543 shares during the quarter. Magnus Financial Group LLC’s holdings in CAVA Group were worth $546,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in CAVA Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock worth $59,544,000 after purchasing an additional 11,776 shares in the last quarter. Entropy Technologies LP acquired a new stake in CAVA Group in the fourth quarter valued at approximately $2,097,000. Empowered Funds LLC acquired a new stake in CAVA Group in the fourth quarter valued at approximately $5,007,000. Legacy Capital Wealth Partners LLC grew its position in CAVA Group by 71.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after acquiring an additional 5,712 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in CAVA Group in the fourth quarter valued at approximately $2,697,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the sale, the insider now directly owns 125,347 shares in the company, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Theodoros Xenohristos sold 9,348 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares in the company, valued at $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

CAVA Group Price Performance

Shares of CAVA opened at $79.04 on Friday. The business’s fifty day moving average price is $87.86 and its 200 day moving average price is $106.08. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The stock has a market capitalization of $9.14 billion, a PE ratio of 171.83 and a beta of 2.77.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million for the quarter, compared to analysts’ expectations of $327.98 million. During the same period last year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup increased their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research report on Thursday, March 20th. Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Loop Capital reduced their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

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.