Centricity Wealth Management LLC Acquires Shares of 585 CAVA Group, Inc. (NYSE:CAVA)

Centricity Wealth Management LLC bought a new position in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 585 shares of the company’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CAVA. Conway Capital Management Inc. purchased a new stake in CAVA Group during the 3rd quarter worth about $5,524,000. Entropy Technologies LP bought a new stake in shares of CAVA Group during the fourth 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 position 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 valued at $59,364,000 after acquiring an additional 39,319 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position 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 valued at $63,918,000 after acquiring an additional 373,835 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Sanford C. Bernstein began coverage on shares of 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. JPMorgan Chase & Co. upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Piper Sandler lifted their price objective on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, TD Cowen raised their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.60.

Insider Transactions at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is currently owned by insiders.

CAVA Group Price Performance

Shares of CAVA opened at $108.05 on Friday. CAVA Group, Inc. has a 1 year low of $48.55 and a 1 year high of $172.43. The stock has a 50 day simple moving average of $123.05 and a two-hundred day simple moving average of $125.16. The firm has a market cap of $12.38 billion, a P/E ratio of 234.89 and a beta of 3.25.

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.