CAVA Group, Inc. (NYSE:CAVA) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 393.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 628,300 shares of the company’s stock after purchasing an additional 500,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in CAVA Group were worth $70,872,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Howard Financial Services LTD. raised its position in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC increased its stake in CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of 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 during the period. Mainstream Capital Management LLC lifted its position in shares of CAVA Group by 0.7% in the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock worth $2,003,000 after buying an additional 132 shares during the last quarter. Finally, PSI Advisors LLC boosted its holdings in shares of CAVA Group by 11.3% in the 4th quarter. PSI Advisors LLC now owns 1,473 shares of the company’s stock valued at $166,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA Group stock opened at $86.03 on Friday. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43. The stock has a market capitalization of $9.94 billion, a PE ratio of 187.03 and a beta of 3.33. The firm has a 50 day simple moving average of $92.30 and a 200-day simple moving average of $117.40.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $223.34 million. On average, analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CAVA shares. Barclays cut their target price on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Loop Capital reduced their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a research note on Thursday, March 20th. Finally, Robert W. Baird set a $105.00 price target on shares of CAVA Group and gave the stock an “outperform” rating in a research report on Monday, April 7th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.56.

Insider Buying and Selling

In other CAVA Group news, 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 value 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. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 1,505 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $187,206.95. Following the sale, the chief financial officer now directly owns 234,087 shares of the company’s stock, valued at approximately $29,118,081.93. This represents a 0.64 % 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. Company 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.