Nemes Rush Group LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Nemes Rush Group LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 47,454 shares of the company’s stock, valued at approximately $5,353,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAVA. Cerity Partners LLC bought a new position in CAVA Group in the 3rd quarter worth $1,425,000. The Manufacturers Life Insurance Company grew its holdings in shares of CAVA Group by 5.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,162 shares of the company’s stock worth $2,745,000 after acquiring an additional 1,155 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CAVA Group by 31.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,470 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,511 shares during the period. Captrust Financial Advisors raised its holdings in CAVA Group by 17.6% in the third quarter. Captrust Financial Advisors now owns 9,173 shares of the company’s stock worth $1,136,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Tradition Wealth Management LLC bought a new position in shares of CAVA Group in the 3rd quarter worth about $250,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

NYSE:CAVA opened at $86.53 on Tuesday. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43. The stock has a market cap of $10.00 billion, a P/E ratio of 188.10 and a beta of 3.58. The stock has a 50-day simple moving average of $107.40 and a 200-day simple moving average of $121.67.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share 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 company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lowered their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. TD Securities lowered their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. UBS Group reduced their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Bank of America started coverage on shares of CAVA Group in a research report on Monday. They set a “buy” rating and a $112.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $130.25.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the sale, the chief financial officer now owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the transaction, the insider now owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This trade represents a 0.24 % 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 in the last quarter. Company insiders own 12.10% of the company’s stock.

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.