Perigon Wealth Management LLC Purchases 1,938 Shares of CAVA Group, Inc. (NYSE:CAVA)

Perigon Wealth Management LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 89.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,099 shares of the company's stock after purchasing an additional 1,938 shares during the quarter. Perigon Wealth Management LLC's holdings in CAVA Group were worth $482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CAVA. GAMMA Investing LLC lifted its stake in CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after buying an additional 125 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of CAVA Group during the 3rd quarter valued at $50,000. Burkett Financial Services LLC acquired a new position in shares of CAVA Group in the 4th quarter valued at $56,000. Geneos Wealth Management Inc. purchased a new position in shares of CAVA Group in the fourth quarter worth approximately $63,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in CAVA Group by 98.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company's stock valued at $81,000 after purchasing an additional 433 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the business's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 681,784 shares of company stock worth $100,756,372 in the last 90 days. Company insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAVA. Barclays decreased their target price on shares of CAVA Group from $142.00 to $127.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their target price on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, CAVA Group currently has an average rating of "Moderate Buy" and an average price target of $142.13.

CAVA Group Trading Down 2.9 %

Shares of CAVA stock traded down $4.03 on Friday, hitting $134.92. The stock had a trading volume of 1,700,054 shares, compared to its average volume of 1,911,372. CAVA Group, Inc. has a twelve month low of $46.56 and a twelve month high of $172.43. The company has a fifty day moving average price of $125.06 and a two-hundred day moving average price of $120.14. The firm has a market cap of $15.46 billion, a P/E ratio of 293.31 and a beta of 3.21.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts' expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group's revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.