Norman Fields Gottscho Capital Management LLC Purchases 67,763 Shares of CAVA Group, Inc. $CAVA

Norman Fields Gottscho Capital Management LLC lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 197.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,000 shares of the company’s stock after buying an additional 67,763 shares during the quarter. CAVA Group makes up 1.8% of Norman Fields Gottscho Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Norman Fields Gottscho Capital Management LLC’s holdings in CAVA Group were worth $5,518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of CAVA Group during the second quarter valued at approximately $757,013,000. Capital Research Global Investors grew 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 period. Capital International Investors raised its holdings in CAVA Group by 15.5% in the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after acquiring an additional 656,581 shares during the last quarter. Wellington Management Group LLP raised its holdings in CAVA Group by 76.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,605,508 shares of the company’s stock valued at $126,000,000 after acquiring an additional 697,699 shares during the last quarter. Finally, Primecap Management Co. CA purchased a new position in CAVA Group during the second quarter worth about $92,956,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 0.3%

Shares of NYSE CAVA traded down $0.15 on Monday, hitting $54.26. The company had a trading volume of 3,412,784 shares, compared to its average volume of 3,394,685. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The firm has a market capitalization of $6.34 billion, a P/E ratio of 98.65, a PEG ratio of 4.22 and a beta of 1.80. The business has a 50 day moving average of $61.40 and a two-hundred day moving average of $73.95.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business 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% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

CAVA Group declared that its Board of Directors has approved a share repurchase program on Friday, September 18th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on CAVA shares. Citigroup reaffirmed a “buy” rating on shares of CAVA Group in a research report on Tuesday, July 28th. KeyCorp lowered their price objective on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Morgan Stanley raised CAVA Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, July 15th. Northcoast Research upgraded CAVA Group from a “sell” rating to a “neutral” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. lowered their price target on CAVA Group from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.64.

Insider Activity at CAVA Group

In other news, insider Douglas Thompson bought 6,500 shares of CAVA Group stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $66.52 per share, with a total value of $432,380.00. Following the completion of the transaction, the insider owned 19,371 shares in the company, valued at approximately $1,288,558.92. This trade represents a 50.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.70% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc is a fast-casual restaurant company focused on Mediterranean-inspired food and hospitality. Its restaurants offer customizable meals such as grain bowls, salads, pitas and dips, with ingredients and flavors influenced by the cuisines of the Mediterranean region. The company also provides digital ordering, delivery and catering services through its restaurant platform.

CAVA began as a Washington, DC-area restaurant concept and has expanded its operations across the United States.