Daiwa Securities Group Inc. Purchases 32,847 Shares of CAVA Group, Inc. (NYSE:CAVA)

Daiwa Securities Group Inc. lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 3,268.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,852 shares of the company’s stock after buying an additional 32,847 shares during the period. Daiwa Securities Group Inc.’s holdings in CAVA Group were worth $3,819,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAVA. Arcadia Investment Management Corp MI bought a new stake in shares of CAVA Group in the fourth quarter valued at about $25,000. Allworth Financial LP raised its holdings in CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC raised its holdings in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Golden State Wealth Management LLC bought a new position in CAVA Group in the fourth quarter worth about $47,000. Finally, GAMMA Investing LLC raised its holdings in CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after purchasing an additional 114 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the sale, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,235 shares of company stock worth $3,514,101. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Securities reduced their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Morgan Stanley boosted their target price 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. UBS Group cut 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. Finally, Stifel Nicolaus upped their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Stock Up 2.8 %

Shares of NYSE CAVA opened at $82.25 on Thursday. The business’s 50 day moving average price is $115.66 and its 200 day moving average price is $124.75. The firm has a market cap of $9.51 billion, a P/E ratio of 178.80 and a beta of 3.58. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last issued 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 firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

About CAVA Group

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.