Cookson Peirce & Co. Inc. Grows Holdings in CAVA Group, Inc. (NYSE:CAVA)

Cookson Peirce & Co. Inc. grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 55.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,768 shares of the company’s stock after buying an additional 3,861 shares during the period. Cookson Peirce & Co. Inc.’s holdings in CAVA Group were worth $1,215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Conway Capital Management Inc. purchased a new stake in CAVA Group during the third quarter valued at about $5,524,000. Entropy Technologies LP bought a new position in shares of CAVA Group during the 4th quarter valued at about $2,097,000. Empowered Funds LLC purchased a new position in shares of CAVA Group during the 4th quarter valued at about $5,007,000. SpiderRock Advisors LLC lifted its position in CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Performance

Shares of CAVA stock opened at $86.08 on Wednesday. CAVA Group, Inc. has a fifty-two week low of $56.03 and a fifty-two week high of $172.43. The firm has a market cap of $9.95 billion, a P/E ratio of 187.12 and a beta of 3.25. The business’s 50 day moving average price is $119.47 and its 200-day moving average price is $125.83.

CAVA Group (NYSE:CAVA) last released its quarterly 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays decreased their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Loop Capital lowered their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 651,784 shares of company stock valued at $96,522,922. Corporate insiders own 12.10% of the company’s stock.

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.