Northwestern Mutual Wealth Management Co. Purchases Shares of 18,321 CAVA Group, Inc. $CAVA

Northwestern Mutual Wealth Management Co. purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,321 shares of the company’s stock, valued at approximately $1,438,000.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at $757,013,000. Capital Research Global Investors raised its stake in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after acquiring an additional 1,805,174 shares during the last quarter. Marshall Wace LLP lifted its position in CAVA Group by 689.8% during the 4th quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock worth $81,448,000 after acquiring an additional 1,212,068 shares during the period. Primecap Management Co. CA lifted its position in CAVA Group by 1,378.3% during the 4th quarter. Primecap Management Co. CA now owns 1,260,250 shares of the company’s stock worth $73,964,000 after acquiring an additional 1,175,000 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in CAVA Group during the 2nd quarter valued at about $89,861,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 33,174 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $2,966,750.82. Following the sale, the chief executive officer owned 798,669 shares in the company, valued at approximately $71,424,968.67. This represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 3,252 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the sale, the insider directly owned 324,630 shares in the company, valued at $29,031,660.90. The trade was a 0.99% 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 valued at $6,050,417 in the last three months. 6.70% of the stock is currently owned by company insiders.

CAVA Group Stock Performance

NYSE CAVA opened at $69.25 on Wednesday. The firm has a market capitalization of $8.09 billion, a P/E ratio of 125.92, a PEG ratio of 4.95 and a beta of 1.74. The stock has a 50-day simple moving average of $71.28 and a two-hundred day simple moving average of $77.39. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm 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 company’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, analysts forecast that CAVA Group, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded CAVA Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, August 12th. 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 report on Wednesday, May 20th. TD Cowen reduced their price target on shares of CAVA Group from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Telsey Advisory Group lifted their price objective on shares of CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.44.

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.