CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 8.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,081 shares of the company’s stock after buying an additional 165 shares during the quarter. Farther Finance Advisors LLC’s holdings in CAVA Group were worth $235,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in shares of CAVA Group in the fourth quarter valued at approximately $25,000. Allworth Financial LP grew its holdings in CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC grew its holdings in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in CAVA Group during the 3rd quarter worth approximately $50,000. Finally, Golden State Wealth Management LLC acquired a new position in CAVA Group during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA stock opened at $76.76 on Wednesday. The company has a fifty day moving average price of $112.56 and a 200 day moving average price of $123.66. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 166.86 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS 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 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, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction 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 approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction 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 transaction, the insider now owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAVA shares. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Sanford C. Bernstein started coverage on shares of CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, TD Securities reduced their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.