Atika Capital Management LLC Lowers Position in CAVA Group, Inc. (NYSE:CAVA)

Atika Capital Management LLC trimmed its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 50.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,100 shares of the company’s stock after selling 42,900 shares during the period. Atika Capital Management LLC’s holdings in CAVA Group were worth $4,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CAVA. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the fourth quarter valued at $25,000. Allworth Financial LP increased its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $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 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. boosted its position in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after purchasing an additional 283 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Down 10.5 %

Shares of NYSE:CAVA opened at $75.30 on Friday. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The stock has a market cap of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.33. The business has a fifty day moving average of $104.28 and a two-hundred day moving average of $120.60.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAVA. TD Securities decreased their target price on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Citigroup cut their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. 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. Finally, Barclays cut their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.25.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the transaction, the chief financial officer now owns 235,592 shares of the company’s stock, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % 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 90 days. Insiders own 12.10% of the company’s stock.

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.