Magnus Financial Group LLC Takes $404,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Magnus Financial Group LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,355 shares of the company’s stock, valued at approximately $404,000.

Several other hedge funds have also made changes to their positions in the company. Capital Research Global Investors grew its stake in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares during the period. Vanguard Group Inc. boosted its position 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 during the period. 1832 Asset Management L.P. boosted its position in shares of CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the period. 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 purchasing an additional 492,667 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of CAVA Group by 21.6% during the 4th quarter. Franklin Resources Inc. now owns 715,325 shares of the company’s stock worth $30,745,000 after purchasing an additional 127,146 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The disclosure for this sale can be found here. In the last three months, insiders have sold 493,579 shares of company stock worth $55,510,751.

CAVA Group Trading Down 1.9 %

Shares of CAVA opened at $111.92 on Wednesday. CAVA Group, Inc. has a twelve month low of $29.05 and a twelve month high of $128.18. The firm’s fifty day simple moving average is $93.05 and its 200-day simple moving average is $79.26. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 272.98 and a beta of 3.27.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period last year, the business earned $0.21 EPS. The company’s revenue was up 35.1% on a year-over-year basis. On average, analysts predict that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CAVA. JPMorgan Chase & Co. increased their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Stifel Nicolaus increased their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Wedbush increased their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Barclays increased their target price on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group increased their target price on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $106.75.

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.