Prime Capital Management Co Ltd acquired a new stake in CAVA Group, Inc. (NYSE:CAVA – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,031,630 shares of the company’s stock, valued at approximately $80,962,000. CAVA Group accounts for about 6.5% of Prime Capital Management Co Ltd’s holdings, making the stock its 5th largest position. Prime Capital Management Co Ltd owned approximately 0.89% of CAVA Group at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of CAVA. BlackRock Inc. purchased a new position in CAVA Group during the second quarter worth about $757,013,000. Capital Research Global Investors lifted its holdings in shares of CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after acquiring an additional 1,805,174 shares during the last quarter. Capital International Investors lifted its holdings in shares of CAVA Group by 15.5% in the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after acquiring an additional 656,581 shares during the last quarter. Morgan Stanley boosted its position in shares of CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after purchasing an additional 835,628 shares during the period. Finally, State Street Corp boosted its position in shares of CAVA Group by 1.3% during the 4th quarter. State Street Corp now owns 2,920,442 shares of the company’s stock worth $171,401,000 after purchasing an additional 36,508 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.
CAVA Group Stock Down 3.9%
CAVA Group stock opened at $68.25 on Wednesday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The firm has a market cap of $7.97 billion, a PE ratio of 124.10, a price-to-earnings-growth ratio of 5.12 and a beta of 1.75. The company’s 50 day moving average is $72.86 and its two-hundred day moving average is $77.05.
Insider Transactions at CAVA Group
In other CAVA Group news, CFO Tricia K. Tolivar sold 4,969 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $444,377.67. Following the sale, the chief financial officer owned 234,931 shares in the company, valued at $21,009,879.33. This represents a 2.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $77.14, for a total value of $399,662.34. Following the sale, the chief accounting officer owned 9,505 shares in the company, valued at approximately $733,215.70. This trade represents a 35.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,703 shares of company stock valued at $7,249,579 in the last 90 days. Insiders own 6.70% of the company’s stock.
Analysts Set New Price Targets
CAVA has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of CAVA Group in a research report on Tuesday, July 28th. BMO Capital Markets set a $100.00 price target on CAVA Group in a research report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Guggenheim cut their price objective on CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, August 12th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.
View Our Latest Stock Analysis on CAVA Group
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.
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