First National Bank of Omaha Takes Position in CAVA Group, Inc. $CAVA

First National Bank of Omaha acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, Holdings Channel reports. The fund acquired 71,343 shares of the company’s stock, valued at approximately $5,795,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Modern Wealth Management LLC increased its stake in CAVA Group by 4.2% during the first quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after acquiring an additional 158 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of CAVA Group by 2.4% in the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock valued at $401,000 after purchasing an additional 163 shares during the last quarter. Western Pacific Wealth Management LP grew its holdings in shares of CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after purchasing an additional 179 shares during the period. Allworth Financial LP grew its holdings in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the period. Finally, Clearstead Advisors LLC increased its position in shares of CAVA Group by 18.2% during the 4th quarter. Clearstead Advisors LLC now owns 1,566 shares of the company’s stock worth $92,000 after purchasing an additional 241 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CAVA Group

In other news, Director Karen Kochevar sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director directly owned 3,074 shares in the company, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 3,252 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 $290,826.36. Following the completion of the transaction, the insider owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 82,703 shares of company stock valued at $7,249,579. Insiders own 6.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup restated a “buy” rating on shares of CAVA Group in a report on Tuesday, July 28th. Freedom Capital upgraded shares of CAVA Group to a “hold” rating in a research report on Wednesday, July 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, August 12th. UBS Group upgraded shares of CAVA Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $90.00 in a report on Wednesday, June 10th. Finally, Weiss Ratings cut shares of CAVA Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

CAVA Group Stock Performance

NYSE CAVA opened at $68.25 on Wednesday. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 124.10, a PEG ratio of 5.12 and a beta of 1.75. The firm has a 50 day simple moving average of $72.86 and a 200-day simple moving average of $77.05. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The company had revenue of $368.44 million for the quarter, compared to analyst estimates of $360.09 million. During the same period in the prior year, the business earned $0.16 EPS. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. Equities analysts predict that CAVA Group, Inc. will post 0.53 EPS for the current fiscal year.

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.