44,600 Shares in CAVA Group, Inc. (NYSE:CAVA) Bought by Conway Capital Management Inc.

Conway Capital Management Inc. acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 44,600 shares of the company's stock, valued at approximately $5,524,000. CAVA Group accounts for about 2.7% of Conway Capital Management Inc.'s investment portfolio, making the stock its 9th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in CAVA. Nemes Rush Group LLC bought a new position in CAVA Group during the 2nd quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group in the 2nd quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in CAVA Group during the second quarter worth approximately $37,000. GAMMA Investing LLC grew its holdings in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in CAVA Group in the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Price Performance

Shares of NYSE:CAVA traded down $5.27 during trading on Tuesday, reaching $127.30. The stock had a trading volume of 5,421,823 shares, compared to its average volume of 2,802,740. The stock has a market capitalization of $14.59 billion, a PE ratio of 276.74 and a beta of 2.94. CAVA Group, Inc. has a 52 week low of $31.47 and a 52 week high of $172.43. The business's 50-day moving average price is $137.62 and its 200 day moving average price is $112.51.

CAVA Group (NYSE:CAVA - Get Free Report) last issued 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 firm had revenue of $243.82 million during the quarter, compared to the consensus estimate 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 for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. Analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

CAVA has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Morgan Stanley upped their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Robert W. Baird increased their price target on CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Sanford C. Bernstein began coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price objective on the stock. Finally, Piper Sandler increased their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and an average target price of $143.80.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company's stock, valued at $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.10% of the stock is currently owned by company insiders.

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.