Watchman Group Inc. Takes Position in CAVA Group, Inc. $CAVA

Watchman Group Inc. acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 53,707 shares of the company’s stock, valued at approximately $3,152,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DMC Group LLC raised its position in shares of CAVA Group by 3.7% during the fourth quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after buying an additional 157 shares during the last quarter. Western Pacific Wealth Management LP increased its position in CAVA Group by 32.5% in the fourth quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after purchasing an additional 179 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in CAVA Group by 6.0% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 3,852 shares of the company’s stock worth $233,000 after purchasing an additional 219 shares during the last quarter. Allworth Financial LP increased its position in CAVA Group by 57.4% in the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in CAVA Group by 23.5% in the third quarter. Clearstead Advisors LLC now owns 1,325 shares of the company’s stock worth $80,000 after purchasing an additional 252 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of CAVA Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. Robert W. Baird set a $88.00 price target on shares of CAVA Group in a research report on Friday. KeyCorp boosted their price target on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Argus restated a “hold” rating on shares of CAVA Group in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.81.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of CAVA Group stock in a transaction on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the transaction, the insider directly owned 327,882 shares of the company’s stock, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.70% of the stock is owned by insiders.

CAVA Group Stock Up 4.0%

NYSE CAVA opened at $79.96 on Tuesday. The company has a fifty day moving average of $85.00 and a two-hundred day moving average of $69.15. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 148.08, a PEG ratio of 5.44 and a beta of 1.90. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. CAVA Group’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities research analysts anticipate that CAVA Group, Inc. will post 0.52 EPS for the current year.

CAVA Group 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.