Amundi Purchases 41,613 Shares of CAVA Group, Inc. (NYSE:CAVA)

Amundi lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 1,934.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,764 shares of the company’s stock after acquiring an additional 41,613 shares during the quarter. Amundi’s holdings in CAVA Group were worth $5,015,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD bought a new stake in shares of CAVA Group in the 4th quarter valued at about $77,000. Larson Financial Group LLC grew its stake in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CAVA Group by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,443 shares of the company’s stock worth $276,000 after acquiring an additional 289 shares in the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of CAVA Group during the fourth quarter worth $372,000. Finally, Raymond James Financial Inc. purchased a new stake in CAVA Group in the fourth quarter valued at about $59,516,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CAVA shares. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. UBS Group cut their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Barclays reduced their target price 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. Finally, Loop Capital dropped their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

Insider Activity at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction on 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 owns 235,592 shares in the company, valued at $28,077,854.56. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by company insiders.

CAVA Group Stock Up 4.6 %

Shares of NYSE CAVA opened at $77.45 on Friday. The firm has a 50-day simple moving average of $114.08 and a 200-day simple moving average of $124.10. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 168.37 and a beta of 3.58. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.