2,400 Shares in CAVA Group, Inc. (NYSE:CAVA) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,400 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds also recently made changes to their positions in the company. Conway Capital Management Inc. acquired a new stake in shares of CAVA Group in the 3rd quarter valued at about $5,524,000. SpiderRock Advisors LLC lifted its stake in CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after buying an additional 39,319 shares during the last quarter. Xponance Inc. boosted its holdings in shares of CAVA Group by 95.2% in the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after acquiring an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares during the last quarter. Finally, PFG Investments LLC increased its holdings in shares of CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after acquiring an additional 4,275 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 5.2 %

Shares of CAVA Group stock opened at $112.71 on Wednesday. The company has a 50-day moving average of $131.70 and a two-hundred day moving average of $116.49. CAVA Group, Inc. has a 12-month low of $40.05 and a 12-month high of $172.43. The stock has a market cap of $12.91 billion, a PE ratio of 245.02 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the sale, the director now owns 1,307 shares in the company, valued at approximately $182,980. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 over the last 90 days. 12.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAVA. Robert W. Baird increased their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Citigroup boosted their price target on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Argus increased their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. UBS Group dropped their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, TD Cowen lifted their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.13.

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.