First Financial Bankshares Inc Makes New Investment in CAVA Group, Inc. $CAVA

First Financial Bankshares Inc purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 26,525 shares of the company’s stock, valued at approximately $1,602,000.

Several other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its position in shares of CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after buying an additional 356 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in CAVA Group during the second quarter worth about $31,000. Toth Financial Advisory Corp increased its stake in CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after acquiring an additional 440 shares during the last quarter. Western Pacific Wealth Management LP bought a new position in CAVA Group in the 3rd quarter worth about $33,000. Finally, CNB Bank raised its holdings in shares of CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 4,542 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $282,239.88. Following the completion of the sale, the chief executive officer owned 802,783 shares in the company, valued at approximately $49,884,935.62. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 994 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $61,767.16. Following the sale, the insider directly owned 49,122 shares of the company’s stock, valued at approximately $3,052,441.08. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,843 shares of company stock worth $2,764,355 over the last three months. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 2.5%

Shares of NYSE:CAVA opened at $68.36 on Tuesday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 58.93, a price-to-earnings-growth ratio of 5.15 and a beta of 2.41. The stock’s 50-day moving average price is $64.35 and its 200-day moving average price is $61.64. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $108.98.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Benchmark raised CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Sanford C. Bernstein set a $70.00 price target on shares of CAVA Group in a research note on Wednesday, January 7th. Truist Financial increased their price target on shares of CAVA Group from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Argus lowered their price objective on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Piper Sandler cut their target price on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

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.