CAVA Group, Inc. (NYSE:CAVA) Position Increased by FORA Capital LLC

FORA Capital LLC lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,413 shares of the company’s stock after purchasing an additional 10,496 shares during the quarter. CAVA Group accounts for approximately 1.5% of FORA Capital LLC’s portfolio, making the stock its 5th largest position. FORA Capital LLC owned about 0.09% of CAVA Group worth $12,560,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group in the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group in the second quarter valued at $36,000. Headlands Technologies LLC bought a new position in CAVA Group in the second quarter valued at $37,000. Finally, GAMMA Investing LLC raised its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Price Performance

NYSE:CAVA traded down $0.89 during mid-day trading on Wednesday, reaching $142.63. 164,135 shares of the company’s stock traded hands, compared to its average volume of 2,777,788. The company has a 50 day moving average price of $134.47 and a 200-day moving average price of $108.08. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 311.96 and a beta of 3.23. CAVA Group, Inc. has a 12-month low of $31.47 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. As a group, analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, 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 transaction of $2,133,450.00. Following the transaction, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Securities increased their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Jefferies Financial Group lifted their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley upped their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Wedbush lifted their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.80.

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.