Kingsview Wealth Management LLC Has $2.74 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Kingsview Wealth Management LLC boosted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,288 shares of the company’s stock after acquiring an additional 633 shares during the quarter. Kingsview Wealth Management LLC’s holdings in CAVA Group were worth $2,740,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in CAVA Group in the 4th quarter valued at $47,000. R Squared Ltd bought a new stake in CAVA Group in the fourth quarter valued at $49,000. Sunbelt Securities Inc. acquired a new position in CAVA Group during the third quarter worth $50,000. Finally, Burkett Financial Services LLC bought a new position in shares of CAVA Group during the fourth quarter valued at $56,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 2.6 %

Shares of CAVA Group stock opened at $138.30 on Monday. CAVA Group, Inc. has a 12 month low of $48.10 and a 12 month high of $172.43. The business has a fifty day simple moving average of $124.93 and a 200 day simple moving average of $122.54. The stock has a market cap of $15.85 billion, a PE ratio of 300.65 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the prior year, the business posted $0.06 EPS. CAVA Group’s revenue was up 38.9% on a year-over-year basis. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $182,980. The trade was a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 681,784 shares of company stock valued at $100,756,372 over the last three months. 12.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAVA. Loop Capital upped their target price on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays reduced their target price on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. TD Cowen raised their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird boosted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.13.

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.