Proficio Capital Partners LLC Invests $2.70 Million in CAVA Group, Inc. (NYSE:CAVA)

Proficio Capital Partners LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,914 shares of the company's stock, valued at approximately $2,697,000.

Other institutional investors have also recently bought and sold shares of the company. Conway Capital Management Inc. purchased a new stake in CAVA Group in the third quarter valued at approximately $5,524,000. Charles Schwab Investment Management Inc. grew its holdings in CAVA Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock valued at $59,544,000 after purchasing an additional 11,776 shares during the period. Entropy Technologies LP purchased a new stake in CAVA Group in the fourth quarter valued at approximately $2,097,000. Empowered Funds LLC purchased a new stake in CAVA Group in the fourth quarter valued at approximately $5,007,000. Finally, Legacy Capital Wealth Partners LLC grew its holdings in CAVA Group by 71.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company's stock valued at $1,541,000 after purchasing an additional 5,712 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

CAVA traded down $1.08 during trading on Friday, hitting $83.59. The company had a trading volume of 3,608,663 shares, compared to its average volume of 2,914,633. The company has a market cap of $9.66 billion, a PE ratio of 181.71 and a beta of 3.58. The business has a 50-day moving average of $110.68 and a 200-day moving average of $122.88. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43.

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CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 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 $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Theodoros Xenohristos sold 851 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 $101,422.18. Following the sale, the insider now owns 358,995 shares of the company's stock, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock valued at $3,514,101 over the last ninety days. Corporate insiders own 12.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Securities lowered their target price on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Barclays decreased their price objective on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Loop Capital decreased 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 note on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Thursday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, CAVA Group currently 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.