CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 74.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 20,354 shares of the company’s stock after purchasing an additional 8,660 shares during the quarter. Victory Capital Management Inc.’s holdings in CAVA Group were worth $2,521,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of CAVA Group during the 3rd quarter worth about $1,293,000. Rakuten Securities Inc. boosted its stake in shares of CAVA Group by 235.3% during the 3rd quarter. Rakuten Securities Inc. now owns 1,234 shares of the company’s stock worth $153,000 after purchasing an additional 866 shares during the last quarter. First National Trust Co acquired a new stake in shares of CAVA Group during the 3rd quarter worth about $248,000. State of New Jersey Common Pension Fund D boosted its stake in shares of CAVA Group by 3.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,862 shares of the company’s stock worth $2,708,000 after purchasing an additional 766 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC boosted its stake in shares of CAVA Group by 71.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,946 shares of the company’s stock worth $984,000 after purchasing an additional 3,321 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Price Performance

CAVA Group stock opened at $145.00 on Friday. The company has a market cap of $16.61 billion, a PE ratio of 314.85 and a beta of 3.23. The company has a fifty day moving average price of $133.66 and a two-hundred day moving average price of $106.69. CAVA Group, Inc. has a 12 month low of $31.47 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. Equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

CAVA has been the topic of several recent analyst reports. Loop Capital increased their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Robert W. Baird increased their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays increased their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Jefferies Financial Group increased their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Wedbush increased their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 334,994 shares of company stock worth $42,543,534. 12.10% of the stock is owned by insiders.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.