Aigen Investment Management LP Buys New Shares in CAVA Group, Inc. (NYSE:CAVA)

Aigen Investment Management LP purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,443 shares of the company’s stock, valued at approximately $1,293,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the period. Capital Research Global Investors increased its holdings in shares of CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in CAVA Group by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after acquiring an additional 492,667 shares during the last quarter. Renaissance Technologies LLC grew its position in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in CAVA Group by 51.8% during the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after acquiring an additional 250,110 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

NYSE:CAVA traded down $0.57 during mid-day trading on Tuesday, reaching $147.23. The stock had a trading volume of 380,861 shares, compared to its average volume of 2,673,978. The stock’s 50 day simple moving average is $128.75 and its two-hundred day simple moving average is $102.06. CAVA Group, Inc. has a 1-year low of $30.00 and a 1-year high of $151.56. The company has a market capitalization of $16.83 billion, a price-to-earnings ratio of 399.62 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same period in the previous year, the business earned $0.21 EPS. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of research reports. TD Securities boosted their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Stifel Nicolaus increased their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. UBS Group started coverage on shares of CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 target price on the stock. Wedbush raised their price objective on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Citigroup boosted their price objective on shares of CAVA Group from $115.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average price target of $120.36.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock valued at $38,310,084. Company insiders own 12.10% of the company’s stock.

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.