Cerity Partners LLC Has $1.73 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Cerity Partners LLC raised its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,299 shares of the company's stock after acquiring an additional 3,791 shares during the period. Cerity Partners LLC's holdings in CAVA Group were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

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

CAVA Group Stock Performance

CAVA Group stock traded up $0.91 during midday trading on Tuesday, reaching $81.28. 2,394,053 shares of the company's stock were exchanged, compared to its average volume of 3,118,473. The stock's 50-day simple moving average is $90.32 and its 200 day simple moving average is $116.74. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 176.70 and a beta of 3.33. CAVA Group, Inc. has a 52 week low of $59.02 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 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 business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. Research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In related news, CAO Adam David Phillips sold 615 shares of the company'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 transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the firm'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 $84,336.42. Following the sale, the insider now owns 57,312 shares of the company's stock, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,734 shares of company stock valued at $713,252 over the last ninety days. 12.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Loop Capital dropped their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Robert W. Baird set a $105.00 target price on CAVA Group and gave the company an "outperform" rating in a research report on Monday, April 7th. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. TD Securities lowered their price objective on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price for the company in a report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $126.06.

About CAVA Group

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.