SG Americas Securities LLC significantly increased its holdings in CAVA Group, Inc. (NYSE: CAVA) by an impressive 369.9% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission. The firm acquired an additional 14,831 shares, bringing its total ownership to 18,840 shares, valued at approximately $1,138,000 by the end of the reporting period.
Other institutional investors have also adjusted their positions in CAVA Group. The Maryland State Retirement & Pension System raised its stake by 37.5% during the second quarter, now holding 4,850 shares worth $409,000 after acquiring an additional 1,324 shares. Global Retirement Partners LLC entered the market with a new investment valued at around $463,000. Y Intercept Hong Kong Ltd increased its stake by 271.7%, now owning 23,659 shares valued at $1,993,000. Notably, Hantz Financial Services Inc. lifted its stake by an astonishing 1,846,775.0%, holding 73,875 shares worth $6,222,000 following a purchase of 73,871 shares.
As a result, hedge funds and institutional investors collectively own 73.15% of CAVA Group’s stock.
Stock Performance and Analyst Insights
CAVA Group shares opened at $72.06 on Friday. The company has seen a fifty-day moving average price of $56.14 and a two-hundred-day moving average price of $65.87. With a market capitalization of $8.36 billion, CAVA Group boasts a P/E ratio of 62.12 and a PEG ratio of 3.69. Over the past year, the stock reached a low of $43.41 and a high of $144.49.
Wall Street analysts have provided a range of insights regarding CAVA Group. On January 6, UBS Group raised its price target from $58.00 to $66.00 while maintaining a “neutral” rating. Following this, Mizuho updated its price target from $52.00 to $64.00, also assigning a “neutral” rating on January 9. The Goldman Sachs Group reiterated its “neutral” rating with a target of $68.00 on November 5. Meanwhile, Truist Financial increased its target from $66.00 to $78.00, affirming a “buy” rating on January 8. Additionally, Sanford C. Bernstein set a price target of $70.00 on January 7.
Overall, one analyst has rated CAVA Group as a Strong Buy, while sixteen have issued Buy ratings and nine have assigned Hold ratings. The average rating stands at “Moderate Buy” with a target price of $81.83, according to data from MarketBeat.com.
Insider Trading Activity
In other developments, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group on November 26 at an average price of $50.70, amounting to a total value of $192,051.60. Following the sale, Bertram retains ownership of 51,143 shares, valued at approximately $2,592,950.10, reflecting a 6.90% decrease in his position. This transaction was disclosed in a legal filing with the Securities and Exchange Commission.
Company insiders now own 6.80% of CAVA Group’s stock, indicating a significant level of insider investment.
CAVA Group, Inc., founded in 2011 in the Washington, D.C. area, specializes in Mediterranean-inspired fast-casual dining. The company offers customizable bowls, pitas, and salads featuring a variety of proteins, grains, and fresh vegetables. Known for its focus on high-quality ingredients, CAVA aims to deliver an elevated dining experience for both dine-in and takeout customers. Its growth strategy includes the acquisition of Zoe’s Kitchen in 2018, further expanding its market presence.
