Arizona State Retirement System Raises Position in CAVA Group, Inc. (NYSE:CAVA)

Arizona State Retirement System increased its holdings in CAVA Group, Inc. (NYSE:CAVA) by 41.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,224 shares of the company’s stock after buying an additional 6,808 shares during the period. Arizona State Retirement System’s holdings in CAVA Group were worth $2,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nwam LLC raised its position in shares of CAVA Group by 2.6% in the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after buying an additional 85 shares in the last quarter. Howard Financial Services LTD. raised its position in shares of CAVA Group by 1.8% in the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after buying an additional 109 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of CAVA Group by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after buying an additional 114 shares in the last quarter. Finally, Mainstream Capital Management LLC raised its position in shares of CAVA Group by 0.7% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 4.3 %

Shares of NYSE:CAVA opened at $80.51 on Tuesday. The stock’s 50-day moving average price is $116.93 and its 200-day moving average price is $125.35. 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 $9.31 billion, a P/E ratio of 175.02 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last posted its 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 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, research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the 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 completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction dated Tuesday, January 21st. The stock was 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 owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. Company insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CAVA shares. JPMorgan Chase & Co. increased their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. TD Cowen increased their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target 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.