Russell Investments Group Ltd. Buys 47,825 Shares of CAVA Group, Inc. (NYSE:CAVA)

Russell Investments Group Ltd. boosted its stake in CAVA Group, Inc. (NYSE:CAVA) by 279.0% in the 4th quarter, Holdings Channel reports. The firm owned 64,967 shares of the company’s stock after acquiring an additional 47,825 shares during the quarter. Russell Investments Group Ltd.’s holdings in CAVA Group were worth $7,328,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in shares of CAVA Group by 20.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company’s stock valued at $1,226,000 after acquiring an additional 1,874 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in CAVA Group by 177.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 10,710 shares of the company’s stock valued at $1,208,000 after purchasing an additional 6,845 shares during the period. Wells Fargo & Company MN grew its position in shares of CAVA Group by 11.7% during the 4th quarter. Wells Fargo & Company MN now owns 242,720 shares of the company’s stock valued at $27,379,000 after purchasing an additional 25,474 shares in the last quarter. Pamalican Asset Management Ltd bought a new position in shares of CAVA Group in the fourth quarter worth $4,512,000. Finally, Smith Moore & CO. raised its position in shares of CAVA Group by 17.6% in the fourth quarter. Smith Moore & CO. now owns 4,242 shares of the company’s stock worth $478,000 after buying an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA opened at $90.01 on Friday. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43. The stock’s 50 day simple moving average is $97.49 and its 200 day simple moving average is $118.64. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 195.68 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last issued its 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 firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

CAVA has been the subject of several recent analyst reports. UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Loop Capital dropped their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Bank of America initiated coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.56.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the transaction, the insider now owns 358,995 shares in the company, valued at $42,785,024.10. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by company insiders.

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.