Wellington Management Group LLP Acquires 697,699 Shares of CAVA Group, Inc. $CAVA

Wellington Management Group LLP boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 76.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,605,508 shares of the company’s stock after buying an additional 697,699 shares during the quarter. Wellington Management Group LLP owned about 1.37% of CAVA Group worth $126,000,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in shares of CAVA Group in the 4th quarter valued at approximately $25,000. Ancora Advisors LLC acquired a new position in CAVA Group during the second quarter valued at approximately $27,000. FNY Investment Advisers LLC acquired a new stake in shares of CAVA Group in the second quarter worth $31,000. Philadelphia Investment Partners LLC acquired a new stake in shares of CAVA Group in the second quarter worth $33,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares during the period. Institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CAVA shares. Roth Capital reiterated a “buy” rating and issued a $95.00 target price (down from $106.00) on shares of CAVA Group in a report on Wednesday, August 12th. TD Cowen cut their price objective on CAVA Group from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Mizuho dropped their price target on CAVA Group from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Wolfe Research increased their price objective on CAVA Group from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, Northcoast Research raised shares of CAVA Group from a “sell” rating to a “neutral” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, 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 transaction of $1,124,100.00. Following the completion of the transaction, the insider directly owned 98,490 shares in the company, valued at $8,864,100. This represents a 11.25% 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, CFO Tricia K. Tolivar sold 4,969 shares of CAVA Group stock in a transaction 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 transaction, the chief financial officer directly owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. The trade was a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 67,512 shares of company stock worth $6,050,417 over the last three months. 6.70% of the stock is currently owned by insiders.

CAVA Group Stock Down 7.0%

NYSE CAVA opened at $61.13 on Wednesday. The stock has a market cap of $7.14 billion, a P/E ratio of 111.15, a PEG ratio of 5.16 and a beta of 1.74. The company’s 50-day simple moving average is $69.35 and its 200 day simple moving average is $77.29. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. Research analysts anticipate that CAVA Group, Inc. will post 0.54 earnings per share 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.