CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 239.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,610 shares of the company's stock after buying an additional 11,016 shares during the period. Algert Global LLC's holdings in CAVA Group were worth $1,933,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC acquired a new position in CAVA Group in the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC grew its stake in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Down 1.6 %

NYSE CAVA traded down $2.32 during trading hours on Thursday, hitting $141.20. 1,709,557 shares of the stock were exchanged, compared to its average volume of 2,784,726. The stock has a 50-day moving average of $134.81 and a 200 day moving average of $108.31. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 307.02 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.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAVA. Wedbush increased their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Robert W. Baird increased their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Piper Sandler lifted their price target on CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.80.

Insider Activity at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the business's 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 $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.10% of the stock is owned by corporate insiders.

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.