FNY Investment Advisers LLC Buys 5,938 Shares of CAVA Group, Inc. $CAVA

FNY Investment Advisers LLC grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 177.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,281 shares of the company’s stock after buying an additional 5,938 shares during the quarter. FNY Investment Advisers LLC’s holdings in CAVA Group were worth $560,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of CAVA Group during the second quarter worth about $463,000. Valeo Financial Advisors LLC bought a new stake in CAVA Group in the 2nd quarter valued at approximately $57,824,000. Liontrust Investment Partners LLP bought a new stake in CAVA Group in the 3rd quarter valued at approximately $43,189,000. Renaissance Capital LLC boosted its position in CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after acquiring an additional 31,651 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Activity

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the transaction, the chief financial officer directly owned 231,934 shares in the company, valued at $14,412,378.76. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Robert Bertram sold 1,074 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the completion of the transaction, the insider directly owned 50,116 shares in the company, valued at $3,378,319.56. The trade was a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 39,055 shares of company stock valued at $2,572,303. 6.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of CAVA Group in a report on Friday, March 6th. They issued a “neutral” rating and a $80.00 price objective on the stock. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Royal Bank Of Canada raised their target price on shares of CAVA Group from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Piper Sandler lifted their price target on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Johnson Rice set a $72.00 price target on shares of CAVA Group in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.04.

CAVA Group Stock Down 1.7%

CAVA opened at $88.96 on Thursday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $101.50. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 164.75, a PEG ratio of 7.79 and a beta of 2.16. The business has a 50 day moving average of $71.77 and a 200-day moving average of $62.92.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.