Two Sigma Advisers LP Buys 321,800 Shares of CAVA Group, Inc. (NYSE:CAVA)

Two Sigma Advisers LP increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,210,900 shares of the company’s stock after purchasing an additional 321,800 shares during the quarter. Two Sigma Advisers LP owned 1.93% of CAVA Group worth $273,820,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CAVA. Nemes Rush Group LLC purchased a new position in CAVA Group during the 2nd quarter valued at $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group during the 2nd quarter valued at $36,000. Headlands Technologies LLC purchased a new position in CAVA Group during the 2nd quarter valued at $37,000. GAMMA Investing LLC boosted its holdings in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Finally, Mather Group LLC. purchased a new position in CAVA Group during the 2nd quarter valued at $45,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $150.50 on Friday. The business’s 50-day moving average is $136.79 and its 200 day moving average is $110.85. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a market capitalization of $17.24 billion, a P/E ratio of 327.17 and a beta of 2.93.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. TD Securities upped their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Piper Sandler upped their target price on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their target price on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

Insider Activity at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $182,980. This represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group 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.