Bridgewater Associates LP Sells 9,550 Shares of CAVA Group, Inc. (NYSE:CAVA)

Bridgewater Associates LP cut its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 45.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,237 shares of the company's stock after selling 9,550 shares during the quarter. Bridgewater Associates LP's holdings in CAVA Group were worth $1,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAVA. Kane Investment Management Inc. bought a new stake in shares of CAVA Group during the 4th quarter valued at about $686,000. Mariner LLC grew its position in shares of CAVA Group by 3.4% during the 4th quarter. Mariner LLC now owns 275,881 shares of the company's stock valued at $31,119,000 after buying an additional 9,036 shares during the last quarter. Barclays PLC grew its position in shares of CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock valued at $9,560,000 after buying an additional 591,866 shares during the last quarter. Oak Associates Ltd. OH bought a new stake in shares of CAVA Group during the 4th quarter valued at about $206,000. Finally, Treasurer of the State of North Carolina grew its position in shares of CAVA Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 33,176 shares of the company's stock valued at $3,742,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 2,936 shares of the company'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 $365,209.04. Following the completion of the transaction, the chief executive officer now owns 773,433 shares of the company's stock, valued at $96,207,330.87. This represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 615 shares of the company'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 $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,734 shares of company stock valued at $713,252 over the last three months. Company insiders own 12.10% of the company's stock.

CAVA Group Price Performance

Shares of NYSE CAVA traded up $4.20 during trading hours on Thursday, hitting $90.65. 783,074 shares of the company's stock were exchanged, compared to its average volume of 3,316,091. CAVA Group, Inc. has a 1-year low of $59.02 and a 1-year high of $172.43. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 197.17 and a beta of 3.33. The company's 50-day moving average price is $89.42 and its 200-day moving average price is $116.53.

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

Analysts Set New Price Targets

Several research analysts have commented on CAVA shares. Bank of America started coverage on shares of CAVA Group in a research report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price for the company. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research report on Wednesday. Barclays decreased their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a report on Tuesday. Loop Capital decreased their price objective on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Finally, Citigroup lowered their price objective on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $124.19.

CAVA Group Company 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.