Sanctuary Advisors LLC Invests $856,000 in CAVA Group, Inc. $CAVA

Sanctuary Advisors LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,902 shares of the company’s stock, valued at approximately $856,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in CAVA Group in the 2nd quarter valued at about $6,833,000. Elevation Point Wealth Partners LLC purchased a new stake in CAVA Group during the 2nd quarter worth approximately $234,000. Commerce Bank purchased a new stake in CAVA Group during the 2nd quarter worth approximately $722,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of CAVA Group during the second quarter valued at approximately $1,438,000. Finally, Quantbot Technologies LP acquired a new position in shares of CAVA Group during the second quarter valued at approximately $848,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $290,826.36. Following the sale, the insider owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the sale, the insider directly owned 98,490 shares in the company, valued at approximately $8,864,100. The trade was a 11.25% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 67,512 shares of company stock worth $6,050,417 over the last ninety days. 6.70% of the stock is currently owned by insiders.

CAVA Group Stock Up 0.2%

NYSE CAVA opened at $67.08 on Friday. The business’s fifty day simple moving average is $69.99 and its 200-day simple moving average is $77.32. The firm has a market cap of $7.84 billion, a PE ratio of 121.97, a P/E/G ratio of 4.56 and a beta of 1.74. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The firm had revenue of $368.44 million during the quarter, compared to analyst estimates of $360.09 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. CAVA Group’s quarterly revenue was up 31.3% on a year-over-year basis. Research analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of research analyst reports. Argus set a $92.00 price target on CAVA Group in a research note on Friday, May 22nd. Roth Capital reissued a “buy” rating and issued a $95.00 price objective (down from $106.00) on shares of CAVA Group in a research note on Wednesday, August 12th. Freedom Capital upgraded CAVA Group to a “hold” rating in a report on Wednesday, July 1st. UBS Group raised shares of CAVA Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $90.00 in a research note on Wednesday, June 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.