Corient Private Wealth LLC Buys 345 Shares of CAVA Group, Inc. (NYSE:CAVA)

Corient Private Wealth LLC raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,768 shares of the company’s stock after buying an additional 345 shares during the period. Corient Private Wealth LLC’s holdings in CAVA Group were worth $763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC raised its stake 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 during the last quarter. Geode Capital Management LLC grew its holdings in CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares during the period. Raymond James Financial Inc. bought a new position in shares of CAVA Group in the 4th quarter worth about $59,516,000. Charles Schwab Investment Management Inc. lifted its stake in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after purchasing an additional 373,835 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction dated 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 owns 776,369 shares in the company, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock worth $3,514,101 in the last 90 days. Insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CAVA. 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. TD Securities dropped their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Thursday, March 20th. Barclays dropped their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Loop Capital reduced their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Trading Up 2.2 %

Shares of NYSE:CAVA opened at $88.60 on Friday. The stock has a market cap of $10.24 billion, a PE ratio of 192.60 and a beta of 3.58. The stock’s fifty day simple moving average is $108.69 and its two-hundred day simple moving average is $122.16. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43.

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 analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.