Mitsubishi UFJ Asset Management Co. Ltd. Purchases 17,600 Shares of CAVA Group, Inc. $CAVA

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CAVA Group, Inc. (NYSE:CAVA) by 20.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,706 shares of the company’s stock after purchasing an additional 17,600 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of CAVA Group worth $6,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAVA. Primecap Management Co. CA boosted its holdings in CAVA Group by 224.1% in the 3rd quarter. Primecap Management Co. CA now owns 85,250 shares of the company’s stock worth $5,150,000 after buying an additional 58,950 shares during the period. US Bancorp DE lifted its position in shares of CAVA Group by 9.2% in the third quarter. US Bancorp DE now owns 9,979 shares of the company’s stock valued at $603,000 after acquiring an additional 844 shares in the last quarter. TD Asset Management Inc bought a new position in shares of CAVA Group in the third quarter worth about $230,000. Parkside Investments LLC grew its position in shares of CAVA Group by 20.0% during the third quarter. Parkside Investments LLC now owns 9,000 shares of the company’s stock worth $544,000 after purchasing an additional 1,500 shares in the last quarter. Finally, First Financial Bankshares Inc bought a new stake in CAVA Group during the 3rd quarter valued at approximately $1,602,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

NYSE:CAVA opened at $78.49 on Tuesday. The firm has a market capitalization of $9.13 billion, a PE ratio of 145.35, a PEG ratio of 7.10 and a beta of 2.41. The stock’s fifty day moving average is $66.79 and its 200 day moving average is $61.69. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $101.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CAVA shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a report on Wednesday, November 5th. Argus restated a “hold” rating on shares of CAVA Group in a research report on Friday. Mizuho lifted their price target on shares of CAVA Group from $52.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Morgan Stanley increased their price objective on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Finally, KeyCorp cut their price objective on CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.45.

Insiders Place Their Bets

In related news, insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $61,767.16. Following the transaction, the insider owned 49,122 shares of the company’s stock, valued at $3,052,441.08. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett Schulman sold 4,542 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the sale, the chief executive officer directly owned 802,783 shares of the company’s stock, valued at $49,884,935.62. This represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,055 shares of company stock valued at $2,572,303. Insiders own 6.80% 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.