ExodusPoint Capital Management LP Makes New $8.55 Million Investment in CAVA Group, Inc. (NYSE:CAVA)

ExodusPoint Capital Management LP bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, HoldingsChannel reports. The firm bought 75,823 shares of the company’s stock, valued at approximately $8,553,000.

Several other hedge funds have also modified their holdings of the business. Arcadia Investment Management Corp MI acquired a new position in CAVA Group during the fourth quarter worth $25,000. Allworth Financial LP boosted its position in shares of 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 purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of 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 purchasing an additional 200 shares during the period. Whittier Trust Co. increased its holdings in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of 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 owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the company’s 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

CAVA Group stock opened at $75.30 on Friday. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 163.70 and a beta of 3.58. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The stock’s 50-day moving average is $104.28 and its 200-day moving average is $120.62.

CAVA Group (NYSE:CAVA) last posted 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. Research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CAVA shares. Bank of America initiated coverage on CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price target on the stock. Citigroup lowered their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Loop Capital cut their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.25.

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.