CWA Asset Management Group LLC Makes New $980,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

CWA Asset Management Group LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, Holdings Channel.com reports. The firm acquired 8,687 shares of the company’s stock, valued at approximately $980,000.

Several other hedge funds have also made changes to their positions in CAVA. Geode Capital Management LLC raised its holdings in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after acquiring an additional 669,599 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 373,835 shares during the period. Two Sigma Advisers LP boosted its stake in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after buying an additional 321,800 shares in the last quarter. Finally, State Street Corp increased its holdings in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares during the period. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA opened at $112.71 on Wednesday. The stock has a market capitalization of $12.91 billion, a P/E ratio of 245.02 and a beta of 3.21. The company’s 50 day simple moving average is $131.70 and its 200-day simple moving average is $116.49. CAVA Group, Inc. has a one year low of $40.05 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred 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 in the company, valued at $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares of the company’s stock, valued at $185,894.61. This represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 652,549 shares of company stock worth $97,242,271. Company insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAVA. Wedbush lifted their target price on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their price objective on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Loop Capital raised their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. TD Cowen boosted their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.