Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in CAVA Group, Inc. (NYSE:CAVA)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in CAVA Group, Inc. (NYSE:CAVA) by 40.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,712 shares of the company’s stock after buying an additional 4,242 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CAVA Group were worth $1,660,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group in the 4th quarter valued at approximately $25,000. Allworth Financial LP grew its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC grew its stake in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of CAVA Group in the 3rd quarter valued at approximately $50,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of CAVA Group in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Up 1.6 %

Shares of CAVA opened at $78.69 on Tuesday. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 171.06 and a beta of 3.58. The firm’s fifty day simple moving average is $113.28 and its 200-day simple moving average is $123.92. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its 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). The business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,235 shares of company stock valued at $3,514,101. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CAVA shares. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Loop Capital lowered their price objective on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Citigroup lowered their price objective on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. TD Securities lowered their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. 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, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

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.