23,914 Shares in CAVA Group, Inc. (NYSE:CAVA) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,914 shares of the company’s stock, valued at approximately $2,697,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI acquired a new position in CAVA Group during the 4th quarter valued at $25,000. Allworth Financial LP grew its position in shares of CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $47,000. GAMMA Investing LLC boosted its stake in CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Finally, R Squared Ltd bought a new position in CAVA Group in the fourth quarter valued at approximately $49,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of CAVA opened at $76.76 on Wednesday. The firm has a market cap of $8.87 billion, a P/E ratio of 166.86 and a beta of 3.58. CAVA Group, Inc. has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The business has a 50-day moving average of $112.56 and a 200 day moving average of $123.66.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction dated 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. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAVA shares. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Loop Capital cut their price objective on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Sanford C. Bernstein began coverage on shares of CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price for the company. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Barclays reduced their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.47.

About CAVA Group

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.