Ameritas Advisory Services LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Ameritas Advisory Services LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,332 shares of the company's stock, valued at approximately $3,985,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in CAVA Group during the second quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after acquiring an additional 125 shares during the period. Sunbelt Securities Inc. bought a new position in CAVA Group during the 3rd quarter worth approximately $50,000. Burkett Financial Services LLC purchased a new position in CAVA Group in the 4th quarter worth approximately $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in CAVA Group by 98.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company's stock valued at $81,000 after purchasing an additional 433 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Up 0.6 %

CAVA traded up $0.70 on Monday, hitting $118.21. 1,719,632 shares of the company's stock traded hands, compared to its average volume of 1,932,643. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 256.98 and a beta of 3.21. CAVA Group, Inc. has a one year low of $43.51 and a one year high of $172.43. The company's 50 day simple moving average is $128.22 and its 200-day simple moving average is $117.71.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm's revenue was up 38.9% on a year-over-year basis. As a group, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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 completion of the transaction, the director now directly owns 6,307 shares of the company's stock, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $182,980. The trade was a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock worth $97,242,271 over the last 90 days. Company insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CAVA shares. Piper Sandler boosted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. TD Securities boosted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Barclays reduced their price target on CAVA Group from $142.00 to $127.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Sanford C. Bernstein began coverage on CAVA Group in a research note on Wednesday, November 20th. They set a "market perform" rating and a $145.00 target price on the stock. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.13.

CAVA Group 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.