D.B. Root & Company LLC Buys Shares of 5,999 CAVA Group, Inc. $CAVA

D.B. Root & Company LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,999 shares of the company’s stock, valued at approximately $518,000.

Several other hedge funds have also recently added to or reduced their stakes in CAVA. First Horizon Advisors Inc. lifted its stake in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after buying an additional 266 shares during the period. Vision Financial Markets LLC acquired a new position in CAVA Group in the first quarter valued at about $26,000. Dagco Inc. acquired a new position in CAVA Group in the first quarter valued at about $27,000. Versant Capital Management Inc acquired a new position in CAVA Group in the first quarter valued at about $31,000. Finally, Brooklyn Investment Group lifted its stake in CAVA Group by 168.0% in the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 252 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAVA. KeyCorp lowered their price target on CAVA Group from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. Bank of America lowered their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 price target on CAVA Group in a report on Wednesday, August 13th. UBS Group lowered their price target on CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, August 13th. Finally, TD Securities restated a “buy” rating and issued a $120.00 price target on shares of CAVA Group in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.44.

CAVA Group Stock Performance

NYSE:CAVA opened at $67.3620 on Friday. The company has a market cap of $7.81 billion, a PE ratio of 56.61, a PEG ratio of 3.43 and a beta of 2.65. CAVA Group, Inc. has a 52-week low of $65.70 and a 52-week high of $172.43. The stock has a 50-day simple moving average of $82.10 and a 200 day simple moving average of $89.51.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business had revenue of $280.62 million during the quarter, compared to the consensus estimate of $285.65 million. During the same period last year, the company earned $0.17 earnings per share. CAVA Group’s quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jennifer Somers sold 2,861 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the sale, the insider owned 137,048 shares of the company’s stock, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 739 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the completion of the sale, the chief accounting officer directly owned 11,063 shares of the company’s stock, valued at approximately $831,495.08. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,360 shares of company stock worth $3,634,738 in the last quarter. 6.80% of the stock is owned by company insiders.

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.