Rhumbline Advisers Sells 734 Shares of CAVA Group, Inc. (NYSE:CAVA)

Rhumbline Advisers lowered its holdings in CAVA Group, Inc. (NYSE:CAVA) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 89,627 shares of the company’s stock after selling 734 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of CAVA Group worth $10,110,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CAVA. Conway Capital Management Inc. purchased a new stake in CAVA Group in the third quarter worth about $5,524,000. Entropy Technologies LP purchased a new position in CAVA Group during the fourth quarter valued at $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group during the 4th quarter valued at $5,007,000. SpiderRock Advisors LLC boosted its holdings in shares of CAVA Group by 8.9% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $104.19 on Tuesday. The business has a 50-day simple moving average of $122.60 and a two-hundred day simple moving average of $125.90. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 226.49 and a beta of 3.25. CAVA Group, Inc. has a fifty-two week low of $50.37 and a fifty-two week high of $172.43.

Analyst Ratings Changes

CAVA has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wedbush boosted their price target on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup reduced their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted 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, Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.60.

Insider Transactions at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brett Schulman sold 2,936 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $365,209.04. Following the sale, the chief executive officer now owns 773,433 shares of the company’s stock, valued at approximately $96,207,330.87. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock worth $96,522,922 over the last three months. 12.10% of the stock is currently owned by company 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.