Avantax Advisory Services Inc. Buys New Stake in CAVA Group, Inc. (NYSE:CAVA)

Avantax Advisory Services Inc. bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,479 shares of the company's stock, valued at approximately $392,000.

Several other hedge funds have also modified their holdings of CAVA. Arcadia Investment Management Corp MI acquired a new position in shares of CAVA Group in the 4th quarter valued at about $25,000. Allworth Financial LP increased its stake in shares of CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after acquiring an additional 192 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of CAVA Group in the 4th quarter valued at approximately $47,000. Finally, GAMMA Investing LLC increased its holdings in CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company's stock worth $48,000 after buying an additional 114 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of CAVA Group 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 transaction, the chief executive officer now owns 776,369 shares of the company's stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by corporate insiders.

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CAVA Group Trading Down 0.1 %

CAVA stock traded down $0.12 during midday trading on Tuesday, hitting $90.21. The stock had a trading volume of 2,920,323 shares, compared to its average volume of 2,923,524. The business has a fifty day moving average price of $110.27 and a two-hundred day moving average price of $122.83. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The firm has a market cap of $10.43 billion, a P/E ratio of 196.11 and a beta of 3.58.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly 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 analysts' expectations of $223.34 million. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Citigroup decreased their target price on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Barclays reduced their price objective on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. UBS Group decreased 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. 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 report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.47.

About CAVA Group

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.