Sovran Advisors LLC Invests $2.63 Million in CAVA Group, Inc. (NYSE:CAVA)

Sovran Advisors LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,373 shares of the company’s stock, valued at approximately $2,628,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Nwam LLC increased its position in CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after buying an additional 85 shares in the last quarter. Howard Financial Services LTD. raised its position in shares of CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after purchasing an additional 109 shares during the last quarter. CIBC Asset Management Inc boosted its stake in CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after purchasing an additional 110 shares in the last quarter. Farther Finance Advisors LLC grew its position in CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

CAVA Group stock opened at $140.70 on Tuesday. The company’s fifty day moving average price is $124.93 and its 200 day moving average price is $122.54. The stock has a market capitalization of $16.12 billion, a P/E ratio of 305.87 and a beta of 3.25. CAVA Group, Inc. has a 1 year low of $48.10 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CAVA shares. UBS Group dropped 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. Piper Sandler increased their price objective on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Loop Capital lifted their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Morgan Stanley increased their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.13.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 681,784 shares of company stock worth $100,756,372. Corporate 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.