Quantinno Capital Management LP Has $6.16 Million Stock Position in CAVA Group, Inc. $CAVA

Quantinno Capital Management LP boosted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 123.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 76,126 shares of the company’s stock after purchasing an additional 41,986 shares during the period. Quantinno Capital Management LP’s holdings in CAVA Group were worth $6,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CAVA. Capital Research Global Investors grew its stake in shares of 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 acquiring an additional 1,805,174 shares during the last quarter. Capital International Investors raised its stake in CAVA Group by 15.5% during the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after purchasing an additional 656,581 shares during the last quarter. Morgan Stanley boosted its holdings in CAVA Group by 33.7% in the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after purchasing an additional 835,628 shares during the period. State Street Corp boosted its holdings in CAVA Group by 1.3% in the 4th quarter. State Street Corp now owns 2,920,442 shares of the company’s stock valued at $171,401,000 after purchasing an additional 36,508 shares during the period. Finally, William Blair Investment Management LLC grew its position in CAVA Group by 28.1% in the 4th quarter. William Blair Investment Management LLC now owns 2,419,247 shares of the company’s stock worth $141,986,000 after purchasing an additional 530,524 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $66.13 on Thursday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The firm has a market capitalization of $7.70 billion, a PE ratio of 127.18, a price-to-earnings-growth ratio of 4.36 and a beta of 1.74. The company’s fifty day moving average price is $74.17 and its two-hundred day moving average price is $77.03.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. During the same period last year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts predict that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the topic of several research reports. Piper Sandler boosted their price objective 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. Citigroup reissued a “buy” rating on shares of CAVA Group in a research report on Tuesday, July 28th. Weiss Ratings downgraded CAVA Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Roth Capital restated a “buy” rating and set a $106.00 price target on shares of CAVA Group in a research note on Wednesday, May 20th. Finally, Telsey Advisory Group upped their price target on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.04.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 757 shares of CAVA Group 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 $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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tricia K. Tolivar sold 4,969 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $444,377.67. Following the completion of the sale, the chief financial officer owned 234,931 shares in the company, valued at approximately $21,009,879.33. This represents a 2.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 91,747 shares of company stock valued at $7,970,838 over the last 90 days. Company insiders own 6.70% of the company’s stock.

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.