Allworth Financial LP Boosts Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Allworth Financial LP raised its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 369.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244 shares of the company’s stock after purchasing an additional 192 shares during the quarter. Allworth Financial LP’s holdings in CAVA Group were worth $30,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Conway Capital Management Inc. purchased a new stake in CAVA Group during the 3rd quarter valued at about $5,524,000. Entropy Technologies LP purchased a new stake in CAVA Group during the 4th quarter valued at about $2,097,000. Empowered Funds LLC purchased a new stake in shares of CAVA Group in the fourth quarter worth about $5,007,000. SpiderRock Advisors LLC boosted its stake in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CAVA Group by 262.8% in the third 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 last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred 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 approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock valued at $96,522,922 over the last quarter. 12.10% of the stock is currently owned by insiders.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $99.50 on Wednesday. The business has a 50 day simple moving average of $122.12 and a two-hundred day simple moving average of $125.97. CAVA Group, Inc. has a 12 month low of $50.37 and a 12 month high of $172.43. The stock has a market capitalization of $11.40 billion, a P/E ratio of 216.29 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CAVA shares. Stifel Nicolaus upped their target price on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler upped their target price on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. UBS Group lowered their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Citigroup lowered their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.60.

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.