Arizona State Retirement System Purchases 6,808 Shares of CAVA Group, Inc. (NYSE:CAVA)

Arizona State Retirement System grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 41.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,224 shares of the company's stock after purchasing an additional 6,808 shares during the quarter. Arizona State Retirement System's holdings in CAVA Group were worth $2,620,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group in the 4th quarter worth $25,000. Allworth Financial LP raised its position in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after buying an additional 192 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of CAVA Group in the 3rd quarter worth $50,000. Golden State Wealth Management LLC purchased a new position in shares of CAVA Group in the 4th quarter worth $47,000. Finally, GAMMA Investing LLC raised its position in shares of CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company's stock worth $48,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

NYSE:CAVA traded down $0.75 during mid-day trading on Tuesday, reaching $79.69. The stock had a trading volume of 3,321,532 shares, compared to its average volume of 2,948,076. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 173.24 and a beta of 3.58. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The stock's 50 day simple moving average is $116.93 and its two-hundred day simple moving average is $125.35.

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CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results 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 company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the topic of several research reports. TD Cowen raised their price objective on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Wedbush reissued an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.47.

Insider Buying and Selling at CAVA Group

In other news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the sale, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 over the last ninety days. Company 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.