Intech Investment Management LLC Purchases 21,477 Shares of CAVA Group, Inc. (NYSE:CAVA)

Intech Investment Management LLC grew its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 95.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,916 shares of the company’s stock after buying an additional 21,477 shares during the quarter. Intech Investment Management LLC’s holdings in CAVA Group were worth $4,954,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Evoke Wealth LLC grew its stake in CAVA Group by 97.4% during the fourth quarter. Evoke Wealth LLC now owns 5,061 shares of the company’s stock worth $571,000 after buying an additional 2,497 shares during the last quarter. Signaturefd LLC grew its stake in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after buying an additional 283 shares during the last quarter. Harbour Investments Inc. grew its stake in CAVA Group by 60.3% during the fourth quarter. Harbour Investments Inc. now owns 505 shares of the company’s stock worth $57,000 after buying an additional 190 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of CAVA Group by 5.4% during the fourth quarter. Corient Private Wealth LLC now owns 6,768 shares of the company’s stock worth $763,000 after purchasing an additional 345 shares in the last quarter. Finally, Centurion Wealth Management LLC grew its stake in shares of CAVA Group by 8.8% during the fourth quarter. Centurion Wealth Management LLC now owns 1,913 shares of the company’s stock valued at $216,000 after purchasing an additional 154 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % 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 valued at $3,514,101 over the last three months. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Stock Down 2.3 %

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

CAVA Group (NYSE:CAVA) last announced its quarterly 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). The firm had revenue of $227.40 million for 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, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the topic of several research analyst reports. Loop Capital decreased their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Barclays decreased their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. TD Securities decreased their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group decreased their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.