Independent Advisor Alliance Has $3.92 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Independent Advisor Alliance raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 36.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,708 shares of the company’s stock after acquiring an additional 9,253 shares during the period. Independent Advisor Alliance’s holdings in CAVA Group were worth $3,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAVA. Johnson Investment Counsel Inc. increased its position in shares of CAVA Group by 5.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,105 shares of the company’s stock worth $350,000 after purchasing an additional 165 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of CAVA Group by 3,268.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 33,852 shares of the company’s stock worth $3,819,000 after buying an additional 32,847 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CAVA Group by 40.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,712 shares of the company’s stock valued at $1,660,000 after purchasing an additional 4,242 shares during the last quarter. Amundi raised its position in CAVA Group by 1,934.6% in the 4th quarter. Amundi now owns 43,764 shares of the company’s stock valued at $5,015,000 after purchasing an additional 41,613 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of CAVA Group during the fourth quarter worth $77,000. 73.15% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the 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 $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. This represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock worth $3,514,101 over the last ninety days. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

NYSE CAVA opened at $79.69 on Wednesday. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 173.24 and a beta of 3.58. The business has a 50 day simple moving average of $116.27 and a 200 day simple moving average of $125.05. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last released its 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 firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group decreased their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. TD Securities dropped their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. Finally, William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Seven investment 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, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

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.