CAVA Group, Inc. (NYSE:CAVA) Shares Bought by Whittier Trust Co.

Whittier Trust Co. raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 80.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284 shares of the company’s stock after purchasing an additional 127 shares during the period. Whittier Trust Co.’s holdings in CAVA Group were worth $32,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new position in shares of CAVA Group in the 4th quarter valued at approximately $1,690,000. Fox Hill Wealth Management lifted its stake in shares of CAVA Group by 5.3% during the fourth quarter. Fox Hill Wealth Management now owns 23,917 shares of the company’s stock worth $2,698,000 after buying an additional 1,205 shares during the period. Xponance Inc. grew its holdings in shares of CAVA Group by 6.7% during the fourth quarter. Xponance Inc. now owns 10,142 shares of the company’s stock valued at $1,144,000 after buying an additional 635 shares during the last quarter. Intech Investment Management LLC increased its position in shares of CAVA Group by 95.7% in the 4th quarter. Intech Investment Management LLC now owns 43,916 shares of the company’s stock valued at $4,954,000 after acquiring an additional 21,477 shares during the period. Finally, Evoke Wealth LLC raised its stake in CAVA Group by 97.4% in the 4th quarter. Evoke Wealth LLC now owns 5,061 shares of the company’s stock worth $571,000 after acquiring an additional 2,497 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity

In other news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % 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 worth $3,514,101 over the last 90 days. 12.10% of the stock is currently owned by company insiders.

CAVA Group Trading Up 7.8 %

Shares of CAVA opened at $90.39 on Tuesday. The firm has a market cap of $10.45 billion, a P/E ratio of 196.51 and a beta of 3.58. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The stock’s 50 day moving average is $110.27 and its two-hundred day moving average is $122.83.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results 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). The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAVA. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $142.00 to $115.00 in a report on Friday, February 28th. Citigroup cut their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. 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 research note on Tuesday, January 7th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

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.