Legacy Capital Wealth Partners LLC Acquires New Shares in CAVA Group, Inc. $CAVA

Legacy Capital Wealth Partners LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,092 shares of the company’s stock, valued at approximately $1,019,000.

Several other hedge funds have also recently made changes to their positions in CAVA. Quadcap Wealth Management LLC increased its position in CAVA Group by 1.4% during the second quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock valued at $755,000 after acquiring an additional 124 shares during the last quarter. McDonough Capital Management Inc raised its stake in CAVA Group by 4.7% during the 2nd quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock valued at $245,000 after purchasing an additional 131 shares during the period. Tsfg LLC lifted its holdings in shares of CAVA Group by 19.1% in the second quarter. Tsfg LLC now owns 937 shares of the company’s stock worth $79,000 after buying an additional 150 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of CAVA Group by 5.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock worth $237,000 after acquiring an additional 150 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of CAVA Group by 0.4% during the second quarter. D.A. Davidson & CO. now owns 34,342 shares of the company’s stock valued at $2,893,000 after purchasing an additional 153 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Trading Down 1.3%

NYSE:CAVA opened at $49.01 on Friday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $153.34. The company has a market cap of $5.68 billion, a PE ratio of 42.25, a P/E/G ratio of 2.81 and a beta of 2.47. The company’s 50 day moving average is $56.81 and its two-hundred day moving average is $71.33.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. CAVA Group’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. As a group, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CAVA shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a report on Wednesday, November 5th. Morgan Stanley set a $86.00 target price on CAVA Group in a research report on Wednesday, November 5th. KeyCorp dropped their price objective on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Sanford C. Bernstein cut their price target on CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Piper Sandler decreased their price objective on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.75.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the transaction, the insider owned 51,143 shares in the company, valued at $2,592,950.10. The trade was a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is owned by company insiders.

CAVA Group 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.