CAVA Group, Inc. $CAVA Stake Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 48.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,400 shares of the company’s stock after buying an additional 10,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in CAVA Group were worth $1,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Modern Wealth Management LLC raised its stake in CAVA Group by 4.2% in the first quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock valued at $313,000 after buying an additional 158 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of CAVA Group by 7.4% in the second quarter. Concurrent Investment Advisors LLC now owns 4,356 shares of the company’s stock valued at $342,000 after buying an additional 299 shares during the last quarter. Bogart Wealth LLC boosted its stake in shares of CAVA Group by 24.8% during the 1st quarter. Bogart Wealth LLC now owns 1,509 shares of the company’s stock worth $122,000 after acquiring an additional 300 shares during the period. Ancora Advisors LLC bought a new position in shares of CAVA Group during the 2nd quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of CAVA Group by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,040 shares of the company’s stock worth $84,000 after acquiring an additional 393 shares during the period. Institutional investors own 73.15% of the company’s stock.

Insiders Place Their Bets

In other news, insider Douglas Thompson purchased 6,500 shares of CAVA Group stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $66.52 per share, for a total transaction of $432,380.00. Following the purchase, the insider directly owned 19,371 shares of the company’s stock, valued at $1,288,558.92. This trade represents a 50.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.70% of the company’s stock.

CAVA Group Stock Down 2.5%

Shares of CAVA stock opened at $60.48 on Wednesday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The company has a market capitalization of $7.06 billion, a PE ratio of 112.82, a price-to-earnings-growth ratio of 4.94 and a beta of 1.75. The firm has a 50 day moving average price of $56.20 and a two-hundred day moving average price of $71.25.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $368.44 million for the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, research analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current year.

CAVA Group announced that its board has authorized a share buyback program on Friday, September 18th that permits the company to repurchase $100 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.7% of its shares through open market purchases. Share buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAVA shares. Melius Research raised CAVA Group from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Thursday, October 8th. Seaport Research Partners assumed coverage on CAVA Group in a report on Wednesday, September 16th. They set a “buy” rating and a $58.00 price target for the company. Royal Bank Of Canada decreased their price objective on shares of CAVA Group from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, September 17th. Compass Point upgraded shares of CAVA Group to a “neutral” rating in a report on Monday, September 14th. Finally, Weiss Ratings raised shares of CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.81.

CAVA Group Company Profile

CAVA Group, Inc operates CAVA, a fast-casual restaurant brand serving Mediterranean-inspired food in the United States. Its menu includes customizable bowls and pitas, salads, dips, spreads, grilled proteins, and other Mediterranean dishes, with options designed to accommodate a range of dietary preferences.

The company’s restaurants generally use an assembly-line format that allows customers to build meals from a selection of ingredients and sauces. CAVA also offers its branded dips, spreads, and other products through select grocery and retail channels, extending the brand beyond its restaurant locations.

CAVA was founded in 2010 by Dimitri Moshovitis, Ike Grigoropoulos, and Ted Xenohristos.