DRW Securities LLC Takes Position in CAVA Group, Inc. (NYSE:CAVA)

DRW Securities LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,896 shares of the company’s stock, valued at approximately $606,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CAVA. SpiderRock Advisors LLC raised its holdings in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Xponance Inc. grew its holdings in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after buying an additional 4,803 shares during the last quarter. PFG Investments LLC lifted its position in CAVA Group by 36.8% during the 3rd 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 period. Intech Investment Management LLC purchased a new stake in CAVA Group during the 2nd quarter valued at about $1,728,000. Finally, Aigen Investment Management LP acquired a new position in shares of CAVA Group in the third quarter valued at about $1,293,000. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction 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 transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAVA shares. JPMorgan Chase & Co. lifted their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Barclays upped their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. UBS Group began coverage on shares of CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. Jefferies Financial Group upped their price target on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Argus lifted their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

CAVA Group Trading Up 0.7 %

Shares of CAVA stock opened at $143.50 on Wednesday. The company has a market capitalization of $16.44 billion, a P/E 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. The business’s 50 day moving average is $134.05 and its two-hundred day moving average is $107.62.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. On average, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.