Tradition Wealth Management LLC Buys Shares of 2,015 CAVA Group, Inc. (NYSE:CAVA)

Tradition Wealth Management LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,015 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAVA. FMR LLC grew its stake in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares in the last quarter. Federated Hermes Inc. increased its stake in CAVA Group by 9.7% in the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after acquiring an additional 93,635 shares during the last quarter. Renaissance Technologies LLC grew its position in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of CAVA Group by 51.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after acquiring an additional 250,110 shares during the last quarter. Finally, Hood River Capital Management LLC grew its holdings in shares of CAVA Group by 5.2% during the 2nd quarter. Hood River Capital Management LLC now owns 656,870 shares of the company’s stock valued at $60,925,000 after purchasing an additional 32,493 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.10% of the stock is currently owned by insiders.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $140.78 on Tuesday. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm’s 50-day moving average is $135.62 and its 200 day moving average is $109.86. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 306.04 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up 38.9% on a year-over-year basis. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Loop Capital boosted their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Robert W. Baird raised their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, TD Securities boosted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

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.