Wells Fargo & Company MN Acquires 25,474 Shares of CAVA Group, Inc. (NYSE:CAVA)

Wells Fargo & Company MN lifted its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 242,720 shares of the company's stock after buying an additional 25,474 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of CAVA Group worth $27,379,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in CAVA. Howard Financial Services LTD. lifted its holdings in CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock worth $699,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC raised its holdings in CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company's stock worth $48,000 after acquiring an additional 114 shares during the period. Whittier Trust Co. grew its position in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Mainstream Capital Management LLC lifted its position in shares of CAVA Group by 0.7% during the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after purchasing an additional 132 shares during the last quarter. Finally, PSI Advisors LLC grew its holdings in CAVA Group by 11.3% in the 4th quarter. PSI Advisors LLC now owns 1,473 shares of the company's stock valued at $166,000 after buying an additional 150 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Securities lowered their price objective on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Citigroup cut their price objective on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Robert W. Baird set a $105.00 price objective on CAVA Group and gave the stock an "outperform" rating in a research report on Monday, April 7th. Barclays cut their target price on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.56.

CAVA Group Stock Down 0.9 %

CAVA stock traded down $0.81 during midday trading on Tuesday, reaching $88.23. The company's stock had a trading volume of 1,942,253 shares, compared to its average volume of 3,092,059. The business's 50-day simple moving average is $96.42 and its 200-day simple moving average is $118.34. The stock has a market cap of $10.20 billion, a PE ratio of 191.80 and a beta of 3.33. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the sale, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by company insiders.

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.