Atika Capital Management LLC Reduces Position in CAVA Group, Inc. (NYSE:CAVA)

Atika Capital Management LLC reduced its position in CAVA Group, Inc. (NYSE:CAVA) by 50.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,100 shares of the company’s stock after selling 42,900 shares during the quarter. Atika Capital Management LLC’s holdings in CAVA Group were worth $4,749,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of CAVA Group by 279.0% in the fourth quarter. Russell Investments Group Ltd. now owns 64,967 shares of the company’s stock worth $7,328,000 after buying an additional 47,825 shares during the period. Envestnet Asset Management Inc. increased its stake in CAVA Group by 20.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company’s stock worth $1,226,000 after purchasing an additional 1,874 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in CAVA Group by 177.1% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 10,710 shares of the company’s stock worth $1,208,000 after purchasing an additional 6,845 shares during the period. Wells Fargo & Company MN lifted its position in shares of CAVA Group by 11.7% during the fourth quarter. Wells Fargo & Company MN now owns 242,720 shares of the company’s stock worth $27,379,000 after purchasing an additional 25,474 shares during the last quarter. Finally, Pamalican Asset Management Ltd purchased a new stake in shares of CAVA Group during the fourth quarter valued at $4,512,000. Institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of research analyst reports. UBS Group decreased their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. TD Securities reduced their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Loop Capital cut their price target 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $130.25.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $75.30 on Friday. CAVA Group, Inc. has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The company has a market cap of $8.70 billion, a PE ratio of 163.70 and a beta of 3.33. The business has a 50-day simple moving average of $104.28 and a two-hundred day simple moving average of $120.60.

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

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares of the company’s stock, 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. Insiders have sold a total of 29,235 shares of company stock valued at $3,514,101 in the last ninety days. Company insiders own 12.10% of the company’s stock.

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.