Intech Investment Management LLC Grows Holdings in CAVA Group, Inc. (NYSE:CAVA)

Intech Investment Management LLC increased its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 95.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,916 shares of the company's stock after purchasing an additional 21,477 shares during the quarter. Intech Investment Management LLC's holdings in CAVA Group were worth $4,954,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Conway Capital Management Inc. acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $5,524,000. Charles Schwab Investment Management Inc. boosted its stake in CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock worth $59,544,000 after buying an additional 11,776 shares during the last quarter. Entropy Technologies LP purchased a new stake in CAVA Group in the 4th quarter valued at $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group in the 4th quarter worth $5,007,000. Finally, Legacy Capital Wealth Partners LLC raised its holdings in shares of CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company's stock worth $1,541,000 after acquiring an additional 5,712 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAVA. TD Securities cut their price objective on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Citigroup reduced their price target 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. UBS Group lowered their price objective on CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Thursday. Finally, Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $131.47.

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CAVA Group Stock Performance

Shares of CAVA traded down $1.08 during midday trading on Friday, hitting $83.59. The company had a trading volume of 3,608,663 shares, compared to its average volume of 2,920,438. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43. The firm has a market capitalization of $9.66 billion, a P/E ratio of 181.71 and a beta of 3.58. The company's 50-day simple moving average is $110.68 and its 200-day simple moving average is $122.96.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results 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 predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now owns 57,312 shares of the company's stock, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 in the last ninety days. Insiders own 12.10% of the company's stock.

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.