Leibman Financial Services Inc. Purchases 13,383 Shares of CAVA Group, Inc. $CAVA

Leibman Financial Services Inc. grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 109.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,612 shares of the company’s stock after buying an additional 13,383 shares during the period. Leibman Financial Services Inc.’s holdings in CAVA Group were worth $1,547,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bison Wealth LLC purchased a new position in CAVA Group in the fourth quarter valued at $208,000. AlphaQuest LLC boosted its position in shares of CAVA Group by 2,396.1% during the 1st quarter. AlphaQuest LLC now owns 1,922 shares of the company’s stock valued at $166,000 after acquiring an additional 1,845 shares during the last quarter. Comerica Bank raised its position in shares of CAVA Group by 215.1% during the 1st quarter. Comerica Bank now owns 37,317 shares of the company’s stock valued at $3,225,000 after buying an additional 25,474 shares during the period. Royal Bank of Canada raised its position in CAVA Group by 54.2% in the first quarter. Royal Bank of Canada now owns 237,537 shares of the company’s stock valued at $20,526,000 after purchasing an additional 83,500 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in CAVA Group in the first quarter valued at about $5,352,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAVA. Piper Sandler dropped their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a research report on Wednesday, November 5th. UBS Group lowered their price objective on shares of CAVA Group from $75.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Finally, Barclays dropped their target price on CAVA Group from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $81.00.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the sale, the insider directly owned 51,143 shares in the company, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 0.5%

Shares of CAVA Group stock opened at $59.88 on Tuesday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $144.49. The business’s fifty day moving average price is $53.59 and its 200 day moving average price is $66.79. The stock has a market capitalization of $6.95 billion, a P/E ratio of 51.62, a PEG ratio of 3.39 and a beta of 2.51.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company had revenue of $292.24 million for the quarter, compared to analysts’ expectations of $292.88 million. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.5 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.