Whittier Trust Co. of Nevada Inc. Grows Stake in CAVA Group, Inc. (NYSE:CAVA)

Whittier Trust Co. of Nevada Inc. boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 192.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 386 shares of the company’s stock after purchasing an additional 254 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in CAVA Group were worth $44,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Jennison Associates LLC increased its position in CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after acquiring an additional 19,493 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after acquiring an additional 316,514 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.

Analysts Set New Price Targets

A number of research analysts have issued reports on CAVA shares. Citigroup reduced their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective on the stock in a research note on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. 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 report on Tuesday, January 7th. Finally, Piper Sandler upgraded 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 report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Price Performance

CAVA Group stock opened at $90.39 on Tuesday. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 196.51 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 $110.27 and its 200-day moving average is $122.83.

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.

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.