Jamison Private Wealth Management Inc. Invests $28,000 in CAVA Group, Inc. (NYSE:CAVA)

Jamison Private Wealth Management Inc. acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 298 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. Capital Research Global Investors grew its stake in CAVA Group by 249.5% during the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after buying an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after buying an additional 995,800 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of CAVA Group during the 1st quarter worth approximately $38,225,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after acquiring an additional 492,667 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Activity

In related news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $436,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Ronald M. Shaich sold 1,231,979 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $436,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett Schulman sold 66,414 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $90.11, for a total value of $5,984,565.54. Following the completion of the transaction, the chief executive officer now owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. Insiders sold a total of 1,420,564 shares of company stock valued at $124,690,835 in the last ninety days.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. TD Cowen upped their price target on shares of CAVA Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of CAVA Group in a report on Tuesday, July 30th. Barclays lifted their price target on CAVA Group from $58.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.75.

CAVA Group Stock Performance

Shares of CAVA Group stock traded up $5.13 during trading hours on Friday, reaching $89.11. The company’s stock had a trading volume of 958,630 shares, compared to its average volume of 2,563,920. The stock’s fifty day simple moving average is $87.88 and its two-hundred day simple moving average is $71.81. The company has a market capitalization of $10.16 billion, a P/E ratio of 217.34 and a beta of 3.27. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $98.69.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business had revenue of $259.01 million during the quarter, compared to the consensus estimate of $246.02 million. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts forecast that CAVA Group, Inc. will post 0.34 earnings per share for the current 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.