Bryce Point Capital LLC Buys New Stake in CAVA Group, Inc. (NYSE:CAVA)

Bryce Point Capital LLC purchased 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 & Exchange Commission. The institutional investor purchased 17,373 shares of the company’s stock, valued at approximately $1,960,000. CAVA Group makes up about 0.6% of Bryce Point Capital LLC’s investment portfolio, making the stock its 12th biggest position.

Other institutional investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new position in shares of CAVA Group during the 4th quarter valued at approximately $25,000. Allworth Financial LP increased its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after acquiring an additional 192 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. lifted its holdings in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after purchasing an additional 283 shares during the period. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In related news, CAO Adam David Phillips sold 615 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 in the last three months. 12.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CAVA shares. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research note on Thursday, March 20th. TD Securities decreased their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $142.00 to $115.00 in a report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Loop Capital lowered their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company 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. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $130.25.

CAVA Group Stock Performance

Shares of CAVA opened at $86.98 on Wednesday. The stock has a market capitalization of $10.05 billion, a PE ratio of 189.09 and a beta of 3.58. The company has a 50 day moving average price of $106.73 and a 200-day moving average price of $121.42. CAVA Group, Inc. has a fifty-two week low of $58.22 and a fifty-two week high of $172.43.

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

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.