Capstone Investment Advisors LLC Acquires Shares of 89,500 CAVA Group, Inc. $CAVA

Capstone Investment Advisors LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 89,500 shares of the company’s stock, valued at approximately $7,024,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of CAVA Group during the 2nd quarter valued at about $757,013,000. Capital Research Global Investors raised its stake in CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after buying an additional 1,805,174 shares in the last quarter. Capital International Investors raised its stake in CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after buying an additional 656,581 shares in the last quarter. Morgan Stanley lifted its holdings in CAVA Group by 33.7% in the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after buying an additional 835,628 shares during the period. Finally, State Street Corp lifted its holdings in CAVA Group by 1.3% in the fourth quarter. State Street Corp now owns 2,920,442 shares of the company’s stock worth $171,401,000 after buying an additional 36,508 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

NYSE:CAVA opened at $66.80 on Friday. The firm has a market capitalization of $7.80 billion, a P/E ratio of 121.46, a PEG ratio of 4.61 and a beta of 1.74. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79. The company’s 50-day simple moving average is $70.43 and its 200 day simple moving average is $77.40.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The business had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. On average, equities research analysts expect that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAVA has been the topic of a number of research analyst reports. Northcoast Research upgraded CAVA Group from a “sell” rating to a “neutral” rating in a report on Thursday, August 13th. Robert W. Baird upgraded CAVA Group to a “strong-buy” rating in a research note on Monday. Barclays lifted their price target on CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. BMO Capital Markets set a $100.00 price target on CAVA Group in a research note on Wednesday, May 20th. Finally, Argus set a $92.00 price target on CAVA Group in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 757 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $67,698.51. Following the sale, the chief accounting officer directly owned 6,848 shares of the company’s stock, valued at approximately $612,416.64. The trade was a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the sale, the insider directly owned 98,490 shares in the company, valued at approximately $8,864,100. This represents a 11.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 67,512 shares of company stock worth $6,050,417 over the last three months. Corporate insiders own 6.70% of the company’s stock.

About CAVA Group

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.