Artemis Investment Management LLP Invests $15.50 Million in CAVA Group, Inc. (NYSE:CAVA)

Artemis Investment Management LLP 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 137,398 shares of the company's stock, valued at approximately $15,498,000. Artemis Investment Management LLP owned 0.12% of CAVA Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in CAVA Group during the fourth quarter valued at about $3,985,000. Howard Financial Services LTD. raised its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock valued at $699,000 after buying an additional 109 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in CAVA Group in the fourth quarter worth approximately $4,882,000. Cypress Wealth Services LLC grew its position in CAVA Group by 3.4% during the fourth quarter. Cypress Wealth Services LLC now owns 4,915 shares of the company's stock valued at $554,000 after acquiring an additional 160 shares during the last quarter. Finally, PSI Advisors LLC raised its stake in shares of CAVA Group by 11.3% during the fourth quarter. PSI Advisors LLC now owns 1,473 shares of the company's stock worth $166,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

CAVA stock traded up $0.70 during midday trading on Monday, hitting $118.21. The stock had a trading volume of 1,719,632 shares, compared to its average volume of 1,932,643. CAVA Group, Inc. has a 52-week low of $43.51 and a 52-week high of $172.43. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 256.98 and a beta of 3.21. The business has a 50-day moving average of $128.22 and a two-hundred day moving average of $117.71.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. CAVA Group's quarterly revenue was up 38.9% on a year-over-year basis. Research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares of the company's stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company's stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 652,549 shares of company stock worth $97,242,271 in the last 90 days. Insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CAVA shares. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a report on Wednesday, November 20th. They set a "market perform" rating and a $145.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Loop Capital boosted their target price on CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a research note on Thursday, November 14th. Morgan Stanley raised their price target on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Finally, Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.