CAVA Group, Inc. (NYSE:CAVA) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its position in CAVA Group, Inc. (NYSE:CAVA) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,828 shares of the company’s stock after buying an additional 394 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in CAVA Group were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Allworth Financial LP increased its stake in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of CAVA Group in the fourth quarter valued at $47,000. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 114 shares during the last quarter. R Squared Ltd purchased a new position in shares of CAVA Group in the 4th quarter worth $49,000. Finally, Principal Securities Inc. raised its holdings in CAVA Group by 263.3% in the fourth quarter. Principal Securities Inc. now owns 436 shares of the company’s stock valued at $49,000 after buying an additional 316 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Down 4.5 %

Shares of NYSE:CAVA opened at $99.50 on Wednesday. The business’s 50 day moving average is $122.12 and its 200-day moving average is $125.97. The firm has a market capitalization of $11.40 billion, a PE ratio of 216.29 and a beta of 3.25. CAVA Group, Inc. has a 1-year low of $50.37 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $223.34 million. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAVA shares. TD Cowen raised their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Wedbush raised their target price on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Citigroup reduced their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Stifel Nicolaus boosted their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.60.

Insiders Place Their Bets

In related news, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 651,784 shares of company stock worth $96,522,922 over the last quarter. 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.