CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC raised its position in CAVA Group, Inc. (NYSE:CAVA) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,747 shares of the company’s stock after purchasing an additional 228 shares during the quarter. HighPoint Advisor Group LLC’s holdings in CAVA Group were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CAVA. California Public Employees Retirement System increased its position in CAVA Group by 17.8% in the 4th quarter. California Public Employees Retirement System now owns 126,540 shares of the company’s stock valued at $14,274,000 after acquiring an additional 19,078 shares during the period. Schroder Investment Management Group increased its holdings in shares of CAVA Group by 6.0% during the fourth quarter. Schroder Investment Management Group now owns 54,434 shares of the company’s stock valued at $6,070,000 after purchasing an additional 3,075 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of CAVA Group by 62.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company’s stock valued at $140,572,000 after purchasing an additional 480,900 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in CAVA Group in the fourth quarter worth about $256,000. Finally, Pictet Asset Management Holding SA grew its position in CAVA Group by 59.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,272 shares of the company’s stock valued at $1,271,000 after buying an additional 4,217 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. TD Securities dropped their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. UBS Group decreased their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Bank of America assumed coverage on shares of CAVA Group in a research report on Monday. They issued a “buy” rating and a $112.00 price target on the stock. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.25.

CAVA Group Stock Performance

NYSE CAVA opened at $86.98 on Wednesday. The firm’s 50 day moving average price is $106.73 and its two-hundred day moving average price is $121.42. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 189.09 and a beta of 3.58. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43.

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

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value 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. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 over the last three months. 12.10% of the stock is owned by corporate insiders.

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.