Xponance Inc. Raises Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Xponance Inc. increased its position in CAVA Group, Inc. (NYSE:CAVA) by 60.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,238 shares of the company’s stock after buying an additional 6,096 shares during the quarter. Xponance Inc.’s holdings in CAVA Group were worth $1,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CAVA. First Horizon Advisors Inc. increased its stake in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock worth $25,000 after buying an additional 266 shares during the period. Versant Capital Management Inc purchased a new position in shares of CAVA Group in the first quarter worth $31,000. Whittier Trust Co. increased its stake in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the period. Signaturefd LLC increased its stake in shares of CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after buying an additional 283 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of CAVA Group by 192.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company’s stock worth $44,000 after buying an additional 254 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

CAVA stock opened at $88.25 on Wednesday. The firm has a 50 day moving average price of $84.14 and a 200-day moving average price of $96.32. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 73.54, a PEG ratio of 4.22 and a beta of 2.65.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the sale, the insider directly owned 350,209 shares of the company’s stock, valued at approximately $26,321,708.44. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Somers sold 2,861 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the sale, the insider directly owned 137,048 shares in the company, valued at $10,300,527.68. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,951 shares of company stock valued at $5,409,027. Company insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAVA shares. Morgan Stanley set a $107.00 target price on CAVA Group and gave the company an “equal weight” rating in a research note on Monday. KeyCorp started coverage on CAVA Group in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $100.00 target price on the stock. TD Securities reissued a “buy” rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Barclays reduced their target price on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup boosted their target price on CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $115.00.

CAVA Group Profile

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.