CAVA Group, Inc. $CAVA Stock Holdings Boosted by Verde Capital Management

Verde Capital Management raised its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 18.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,278 shares of the company’s stock after purchasing an additional 3,920 shares during the quarter. Verde Capital Management’s holdings in CAVA Group were worth $2,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC bought a new position in CAVA Group during the 2nd quarter valued at $335,000. Voya Investment Management LLC boosted its stake in CAVA Group by 219.5% during the 1st quarter. Voya Investment Management LLC now owns 386,330 shares of the company’s stock valued at $33,383,000 after purchasing an additional 265,416 shares in the last quarter. Cim LLC boosted its stake in CAVA Group by 2.6% during the 1st quarter. Cim LLC now owns 9,755 shares of the company’s stock valued at $843,000 after purchasing an additional 247 shares in the last quarter. Strs Ohio bought a new position in CAVA Group during the 1st quarter valued at $766,000. Finally, Advisors Capital Management LLC bought a new position in CAVA Group during the 1st quarter valued at $1,853,000. 73.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on CAVA shares. Bank of America decreased their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Argus set a $76.00 target price on CAVA Group in a research report on Tuesday, September 2nd. Barclays reduced their target price on CAVA Group from $91.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. TD Cowen reduced their target price on CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Finally, Melius began coverage on CAVA Group in a report on Monday, July 14th. They set a “hold” rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.41.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 3,062 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the completion of the sale, the insider owned 350,209 shares of the company’s stock, valued at $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brett Schulman sold 31,856 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $2,394,296.96. Following the completion of the sale, the chief executive officer directly owned 792,318 shares of the company’s stock, valued at approximately $59,550,620.88. This trade represents a 3.87% 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 valued at $3,634,738 over the last quarter. 6.80% of the stock is owned by insiders.

CAVA Group Stock Down 0.9%

Shares of CAVA Group stock opened at $63.74 on Friday. The stock has a market cap of $7.39 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 3.22 and a beta of 2.61. The business has a fifty day simple moving average of $78.31 and a 200-day simple moving average of $82.61. CAVA Group, Inc. has a 12 month low of $63.17 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.CAVA Group’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

About CAVA Group

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.