CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Atika Capital Management LLC

Atika Capital Management LLC reduced its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 50.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,100 shares of the company's stock after selling 42,900 shares during the quarter. Atika Capital Management LLC's holdings in CAVA Group were worth $4,749,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in CAVA Group by 279.0% in the fourth quarter. Russell Investments Group Ltd. now owns 64,967 shares of the company's stock worth $7,328,000 after purchasing an additional 47,825 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of CAVA Group by 20.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company's stock valued at $1,226,000 after buying an additional 1,874 shares during the period. Dynamic Technology Lab Private Ltd increased its position in CAVA Group by 177.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 10,710 shares of the company's stock valued at $1,208,000 after buying an additional 6,845 shares in the last quarter. Wells Fargo & Company MN raised its stake in CAVA Group by 11.7% during the 4th quarter. Wells Fargo & Company MN now owns 242,720 shares of the company's stock worth $27,379,000 after buying an additional 25,474 shares during the period. Finally, Pamalican Asset Management Ltd bought a new position in CAVA Group in the fourth quarter worth approximately $4,512,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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CAVA Group Trading Up 1.6 %

Shares of NYSE CAVA traded up $1.28 during trading hours on Wednesday, hitting $79.74. 1,177,586 shares of the company traded hands, compared to its average volume of 3,085,611. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The company's 50 day moving average price is $101.31 and its 200 day moving average price is $119.61. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 172.88 and a beta of 3.33.

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

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 615 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 transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 2,936 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $365,209.04. Following the sale, the chief executive officer now directly owns 773,433 shares in the company, valued at approximately $96,207,330.87. The trade was a 0.38 % 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 in the last 90 days. 12.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of research reports. UBS Group lowered their target price on CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Barclays reduced 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 report on Wednesday, February 26th. Bank of America began coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price on the stock. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target for the company in a research note on Thursday, March 20th. Finally, Robert W. Baird set a $105.00 price objective on CAVA Group and gave the stock an "outperform" rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $127.56.

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.