Legal & General Group Plc bought a new stake in CAVA Group, Inc. (NYSE:CAVA – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 124,147 shares of the company’s stock, valued at approximately $9,743,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of CAVA. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group during the fourth quarter worth about $25,000. FNY Investment Advisers LLC acquired a new position in shares of CAVA Group in the second quarter valued at approximately $31,000. TD Private Client Wealth LLC grew its holdings in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 325 shares in the last quarter. Allworth Financial LP increased its stake in 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 buying an additional 237 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in CAVA Group by 115.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after buying an additional 347 shares during the period. 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, CFO Tricia K. Tolivar sold 4,969 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 transaction of $444,377.67. Following the completion of the sale, the chief financial officer directly owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. The trade was a 2.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 3,252 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the transaction, the insider owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. The trade was a 0.99% decrease in their position. 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 quarter, insiders sold 67,512 shares of company stock worth $6,050,417. 6.70% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on CAVA Group
CAVA Group Stock Down 1.8%
Shares of NYSE:CAVA opened at $65.74 on Tuesday. The firm’s 50 day moving average price is $69.68 and its 200 day moving average price is $77.33. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 119.53, a price-to-earnings-growth ratio of 4.56 and a beta of 1.75. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.
CAVA Group (NYSE:CAVA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $360.09 million. During the same quarter in the previous year, the business posted $0.16 EPS. The firm’s revenue was up 31.3% on a year-over-year basis. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.54 EPS for the current year.
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.
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