Concentric Capital Strategies LP Takes $703,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Concentric Capital Strategies LP purchased a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,677 shares of the company's stock, valued at approximately $703,000.

A number of other large investors have also recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group during the second quarter valued at approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of CAVA Group in the second quarter worth $36,000. Headlands Technologies LLC purchased a new position in shares of CAVA Group in the second quarter worth $37,000. Finally, GAMMA Investing LLC lifted its holdings in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after buying an additional 125 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAVA. JPMorgan Chase & Co. boosted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. TD Cowen boosted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price target on the stock. Finally, Robert W. Baird boosted their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.80.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $5.69 during midday trading on Wednesday, reaching $147.53. 2,386,348 shares of the company's stock traded hands, compared to its average volume of 2,770,838. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The company has a market cap of $16.90 billion, a P/E ratio of 320.72 and a beta of 2.93. The company has a fifty day simple moving average of $136.33 and a two-hundred day simple moving average of $110.58.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter last year, the firm posted $0.06 EPS. The firm's revenue for the quarter was up 38.9% on a year-over-year basis. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS 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.