CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 323.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,627 shares of the company’s stock after buying an additional 37,906 shares during the quarter. Quantbot Technologies LP’s holdings in CAVA Group were worth $6,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SpiderRock Advisors LLC raised its stake in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares during the last quarter. Xponance Inc. increased its holdings in CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after acquiring an additional 4,803 shares in the last quarter. PFG Investments LLC raised its position in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after acquiring an additional 4,275 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of CAVA Group in the second quarter valued at about $1,728,000. Finally, Aigen Investment Management LP acquired a new stake in shares of CAVA Group in the third quarter valued at approximately $1,293,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. UBS Group started coverage on CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. Stifel Nicolaus lifted their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley boosted their target price 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. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $143.80.

CAVA Group Stock Performance

CAVA Group stock opened at $142.56 on Tuesday. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 309.91 and a beta of 3.23. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a 50 day moving average price of $134.05 and a 200 day moving average price of $107.62.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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 company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

CAVA Group Company 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.