Encompass More Asset Management Invests $452,000 in CAVA Group, Inc. (NYSE:CAVA)

Encompass More Asset Management acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,007 shares of the company's stock, valued at approximately $452,000.

Several other large investors have also recently bought and sold shares of CAVA. FMR LLC raised its position in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company's stock worth $431,621,000 after purchasing an additional 29,668 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock worth $273,820,000 after acquiring an additional 321,800 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock valued at $168,219,000 after acquiring an additional 19,493 shares in the last quarter. State Street Corp boosted its stake in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company's stock valued at $156,959,000 after acquiring an additional 316,514 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock worth $151,492,000 after purchasing an additional 669,599 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Insider Activity

In other news, insider Theodoros Xenohristos sold 851 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the sale, the insider now owns 358,995 shares of the company's stock, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at $182,980. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 676,050 shares of company stock worth $100,043,120 over the last ninety days. Corporate insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CAVA shares. Piper Sandler boosted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Morgan Stanley raised their price target on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Finally, Sanford C. Bernstein started coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.13.

CAVA Group Price Performance

CAVA Group stock traded up $0.96 during midday trading on Friday, hitting $124.97. 1,635,766 shares of the company were exchanged, compared to its average volume of 2,086,062. CAVA Group, Inc. has a fifty-two week low of $44.80 and a fifty-two week high of $172.43. The company's fifty day moving average price is $126.66 and its 200-day moving average price is $118.09. The company has a market cap of $14.32 billion, a PE ratio of 271.68 and a beta of 3.21.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results 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. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business's quarterly revenue was up 38.9% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.