Centurion Wealth Management LLC Increases Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Centurion Wealth Management LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,913 shares of the company’s stock after purchasing an additional 154 shares during the period. Centurion Wealth Management LLC’s holdings in CAVA Group were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC increased its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after acquiring an additional 2,455,035 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after purchasing an additional 19,493 shares during the last quarter. Finally, State Street Corp lifted its position in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the period. Institutional investors own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was 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 approximately $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock valued at $3,514,101. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA stock opened at $77.45 on Monday. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The stock has a fifty day simple moving average of $114.08 and a two-hundred day simple moving average of $124.14. The firm has a market capitalization of $8.95 billion, a PE ratio of 168.37 and a beta of 3.58.

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

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Sanford C. Bernstein started coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. Loop Capital dropped their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Barclays cut their target price on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

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.