CAVA Group, Inc. (NYSE:CAVA) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 236,503 shares of the company's stock after selling 55,964 shares during the period. First Trust Advisors LP owned about 0.21% of CAVA Group worth $26,678,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Forum Financial Management LP purchased a new position in shares of CAVA Group during the 4th quarter valued at approximately $230,000. Canada Pension Plan Investment Board lifted its position in shares of CAVA Group by 393.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 628,300 shares of the company's stock valued at $70,872,000 after buying an additional 500,900 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of CAVA Group by 24.6% during the 4th quarter. NewEdge Advisors LLC now owns 15,666 shares of the company's stock valued at $1,767,000 after buying an additional 3,094 shares in the last quarter. Jump Financial LLC lifted its position in shares of CAVA Group by 1,344.1% during the 4th quarter. Jump Financial LLC now owns 222,562 shares of the company's stock valued at $25,105,000 after buying an additional 207,150 shares in the last quarter. Finally, Kane Investment Management Inc. purchased a new position in shares of CAVA Group during the 4th quarter valued at approximately $686,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Stock Down 1.4 %

Shares of CAVA traded down $1.27 during midday trading on Tuesday, reaching $91.89. The company had a trading volume of 2,344,196 shares, compared to its average volume of 3,110,909. CAVA Group, Inc. has a 1-year low of $66.15 and a 1-year high of $172.43. The stock has a market cap of $10.62 billion, a PE ratio of 199.76 and a beta of 3.33. The firm has a 50 day simple moving average of $87.24 and a 200-day simple moving average of $115.51.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CAVA shares. Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $142.00 to $115.00 in a research report on Friday, February 28th. William Blair restated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Wedbush restated an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Loop Capital decreased their price objective on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Bank of America assumed coverage on CAVA Group in a report on Monday, March 31st. They issued a "buy" rating and a $112.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

CAVA Group 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.