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Blueshift Asset Management LLC Makes New $566,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

CAVA Group logo with Retail/Wholesale background

Blueshift Asset Management LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,571 shares of the company's stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SpiderRock Advisors LLC boosted its stake in CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock valued at $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Xponance Inc. lifted its holdings in shares of CAVA Group by 95.2% in the second quarter. Xponance Inc. now owns 9,846 shares of the company's stock valued at $913,000 after buying an additional 4,803 shares during the period. PFG Investments LLC boosted its stake in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company's stock valued at $1,970,000 after buying an additional 4,275 shares in the last quarter. Intech Investment Management LLC acquired a new position in CAVA Group during the second quarter worth about $1,728,000. Finally, Aigen Investment Management LP bought a new stake in CAVA Group in the third quarter worth about $1,293,000. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Stock Performance

Shares of NYSE CAVA traded down $2.32 during mid-day trading on Thursday, reaching $141.20. The company had a trading volume of 1,709,557 shares, compared to its average volume of 2,784,726. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 306.96 and a beta of 3.23. The stock has a fifty day moving average of $135.13 and a two-hundred day moving average of $108.54. CAVA Group, Inc. has a 12-month low of $31.47 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company's revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Loop Capital raised their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a research report on Thursday, November 14th. Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Barclays upped their price target on CAVA Group from $113.00 to $142.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Finally, TD Cowen lifted their target price on CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $143.80.

Read Our Latest Stock Analysis on CAVA

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now owns 1,307 shares of the company's stock, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.10% of the stock is owned by corporate insiders.

About CAVA Group

(Free Report)

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.

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Institutional Ownership by Quarter for CAVA Group (NYSE:CAVA)

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