41,089 Shares in CAVA Group, Inc. $CAVA Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,089 shares of the company’s stock, valued at approximately $3,324,000.

Several other large investors have also recently added to or reduced their stakes in the company. Uhlmann Price Securities LLC lifted its position in shares of CAVA Group by 2.1% in the 1st quarter. Uhlmann Price Securities LLC now owns 15,436 shares of the company’s stock worth $1,249,000 after acquiring an additional 312 shares during the period. Hsbc Holdings PLC bought a new stake in shares of CAVA Group during the fourth quarter valued at approximately $346,000. Rockefeller Capital Management L.P. raised its stake in shares of CAVA Group by 350.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 16,332 shares of the company’s stock valued at $959,000 after purchasing an additional 12,710 shares in the last quarter. World Investment Advisors acquired a new position in shares of CAVA Group in the fourth quarter valued at $206,000. Finally, Pacer Advisors Inc. lifted its position in CAVA Group by 65.6% in the fourth quarter. Pacer Advisors Inc. now owns 21,742 shares of the company’s stock worth $1,276,000 after purchasing an additional 8,612 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim began coverage on shares of CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Truist Financial lifted their target price on shares of CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Piper Sandler increased their price target on shares of CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Benchmark raised their price target on shares of CAVA Group from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Telsey Advisory Group upped their price objective on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.37.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 33,174 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the sale, the chief executive officer directly owned 798,669 shares of the company’s stock, valued at approximately $71,424,968.67. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 757 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $67,698.51. Following the transaction, the chief accounting officer owned 6,848 shares in the company, valued at approximately $612,416.64. The trade was a 9.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 81,747 shares of company stock valued at $7,070,838. 6.70% of the stock is currently owned by insiders.

CAVA Group Stock Performance

NYSE:CAVA opened at $89.15 on Friday. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 171.44, a P/E/G ratio of 6.11 and a beta of 1.70. The stock’s fifty day moving average price is $84.16 and its two-hundred day moving average price is $74.28. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. During the same period last year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

CAVA Group Company Profile

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.