3,599 Shares in CAVA Group, Inc. (NYSE:CAVA) Acquired by SkyOak Wealth LLC

SkyOak Wealth LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,599 shares of the company’s stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAVA. Jamison Private Wealth Management Inc. acquired a new position in CAVA Group in the 2nd quarter worth about $28,000. Headlands Technologies LLC bought a new position in CAVA Group in the 2nd quarter valued at approximately $37,000. Mather Group LLC. acquired a new stake in CAVA Group during the 2nd quarter worth approximately $45,000. SOA Wealth Advisors LLC. bought a new position in shares of CAVA Group during the second quarter valued at $46,000. Finally, CWM LLC grew its stake in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at approximately $28,114,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction 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 completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at approximately $28,114,272. The disclosure for this sale can be found here. Insiders have sold a total of 400,943 shares of company stock valued at $47,062,986 over the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Citigroup lifted their target price on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Robert W. Baird upped their target price on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $111.58.

CAVA Group Stock Performance

Shares of CAVA stock opened at $122.45 on Wednesday. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 298.66 and a beta of 3.34. CAVA Group, Inc. has a 52 week low of $29.05 and a 52 week high of $128.18. The firm’s 50-day simple moving average is $98.36 and its two-hundred day simple moving average is $83.93.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period in the previous year, the company posted $0.21 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. Analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current 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.