Charles Schwab Investment Management Inc. Purchases 11,776 Shares of CAVA Group, Inc. (NYSE:CAVA)

Charles Schwab Investment Management Inc. lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 527,868 shares of the company’s stock after purchasing an additional 11,776 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.46% of CAVA Group worth $59,544,000 as of its most recent SEC filing.

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

CAVA Group Price Performance

CAVA opened at $82.25 on Thursday. The company’s 50 day simple moving average is $115.66 and its two-hundred day simple moving average is $124.75. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 178.80 and a beta of 3.58.

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

Analyst Upgrades and Downgrades

CAVA has been the subject of several research analyst reports. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Loop Capital cut their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Barclays cut their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Insiders Place Their Bets

In related news, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,235 shares of company stock worth $3,514,101 in the last quarter. 12.10% of the stock is 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.