XTX Topco Ltd Purchases New Shares in CAVA Group, Inc. (NYSE:CAVA)

XTX Topco Ltd purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the third quarter, HoldingsChannel reports. The fund purchased 6,682 shares of the company’s stock, valued at approximately $828,000.

Other hedge funds also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in CAVA Group during the second quarter valued at $28,000. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group during the second quarter valued at $36,000. Headlands Technologies LLC bought a new position in CAVA Group during the second quarter valued at $37,000. GAMMA Investing LLC increased its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Finally, SOA Wealth Advisors LLC. bought a new position in CAVA Group during the second quarter valued at $46,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Citigroup upped their price target on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. TD Securities upped their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Wedbush upped their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Argus upped their price target on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.80.

CAVA Group Stock Performance

NYSE:CAVA opened at $127.30 on Wednesday. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The stock has a market capitalization of $14.59 billion, a P/E ratio of 276.74 and a beta of 2.94. The company’s 50-day simple moving average is $137.62 and its 200-day simple moving average is $112.51.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period last year, the business earned $0.06 EPS. The company’s revenue was up 38.9% compared to the same quarter last year. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Activity

In other news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.10% of the company’s stock.

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.