93,661 Shares in CAVA Group, Inc. $CAVA Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,661 shares of the company’s stock, valued at approximately $7,351,000. Public Employees Retirement System of Ohio owned approximately 0.08% of CAVA Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of CAVA Group during the second quarter worth approximately $757,013,000. Capital Research Global Investors increased its stake in CAVA Group by 27.2% during the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after purchasing an additional 1,805,174 shares in the last quarter. Capital International Investors raised its holdings in CAVA Group by 15.5% during the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after buying an additional 656,581 shares during the last quarter. Morgan Stanley raised its holdings in CAVA Group by 33.7% during the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after buying an additional 835,628 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of CAVA Group by 1.3% in the fourth quarter. State Street Corp now owns 2,920,442 shares of the company’s stock valued at $171,401,000 after buying an additional 36,508 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

NYSE CAVA opened at $61.13 on Wednesday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 111.15, a PEG ratio of 5.16 and a beta of 1.74. The company has a fifty day moving average price of $69.35 and a 200-day moving average price of $77.29.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating 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 last year, the firm earned $0.16 earnings per share. The firm’s revenue was up 31.3% on a year-over-year basis. On average, research analysts anticipate that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,969 shares of CAVA Group stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the transaction, the chief financial officer owned 234,931 shares of the company’s stock, valued at $21,009,879.33. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 12,490 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the transaction, the insider owned 98,490 shares in the company, valued at $8,864,100. The trade was a 11.25% decrease in their position. 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. In the last 90 days, insiders have sold 67,512 shares of company stock worth $6,050,417. Company insiders own 6.70% of the company’s stock.

Analyst Ratings Changes

CAVA has been the subject of a number of analyst reports. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a report on Wednesday, May 20th. Barclays raised their price target on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Wolfe Research lifted their price target on CAVA Group from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Argus set a $92.00 price objective on CAVA Group in a report on Friday, May 22nd. Finally, Telsey Advisory Group increased their price objective on CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. One equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.44.

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.