Chung Wu Investment Group LLC Invests $372,000 in CAVA Group, Inc. (NYSE:CAVA)

Chung Wu Investment Group LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,300 shares of the company's stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Conway Capital Management Inc. bought a new position in CAVA Group during the third quarter valued at about $5,524,000. Entropy Technologies LP acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group during the fourth quarter valued at approximately $5,007,000. SpiderRock Advisors LLC increased its position in shares of CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock valued at $59,364,000 after purchasing an additional 39,319 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock valued at $63,918,000 after purchasing an additional 373,835 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CAVA shares. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. TD Cowen lifted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Morgan Stanley raised their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their price objective on CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, CAVA Group presently has an average rating of "Moderate Buy" and an average price target of $131.47.

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CAVA Group Stock Performance

CAVA traded down $3.61 during mid-day trading on Monday, reaching $80.51. The stock had a trading volume of 4,353,154 shares, compared to its average volume of 2,939,587. The firm's fifty day simple moving average is $117.56 and its two-hundred day simple moving average is $125.50. The stock has a market capitalization of $9.31 billion, a P/E ratio of 175.02 and a beta of 3.58. 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 quarterly 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). The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity

In other news, insider Theodoros Xenohristos sold 851 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares in the company, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. 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 currently owned by insiders.

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.