Cannon Global Investment Management LLC Makes New $429,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Cannon Global Investment Management LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,800 shares of the company's stock, valued at approximately $429,000.

A number of other institutional investors have also recently bought and sold shares of CAVA. Victory Capital Management Inc. grew its stake in CAVA Group by 74.1% in the third quarter. Victory Capital Management Inc. now owns 20,354 shares of the company's stock valued at $2,521,000 after purchasing an additional 8,660 shares in the last quarter. Natixis Advisors LLC acquired a new stake in shares of CAVA Group during the 3rd quarter valued at about $1,360,000. Intech Investment Management LLC grew its stake in shares of CAVA Group by 20.4% in the 3rd quarter. Intech Investment Management LLC now owns 22,439 shares of the company's stock valued at $2,779,000 after buying an additional 3,807 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 373,835 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in CAVA Group during the third quarter valued at approximately $241,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Down 0.1 %

Shares of NYSE:CAVA traded down $0.12 during midday trading on Tuesday, reaching $90.21. The company had a trading volume of 2,920,323 shares, compared to its average volume of 2,930,126. The business's 50 day moving average price is $110.27 and its 200 day moving average price is $122.83. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The stock has a market cap of $10.43 billion, a PE ratio of 196.11 and a beta of 3.58.

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CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS 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 during the quarter, compared to the consensus estimate of $223.34 million. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAVA. TD Securities dropped their price target on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Barclays lowered their price objective on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.47.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the firm's 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 $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock valued at $3,514,101 over the last three months. Insiders own 12.10% of the company's stock.

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.