Geode Capital Management LLC Buys 21,120 Shares of CAVA Group, Inc. (NYSE:CAVA)

Geode Capital Management LLC grew its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,243,954 shares of the company's stock after purchasing an additional 21,120 shares during the quarter. Geode Capital Management LLC owned about 1.09% of CAVA Group worth $140,583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in shares of CAVA Group in the 4th quarter valued at $25,000. Allworth Financial LP boosted its holdings in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after buying an additional 192 shares during the last quarter. Larson Financial Group LLC lifted its stake in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Whittier Trust Co. lifted its stake in CAVA Group by 80.9% in the 4th 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. Finally, Signaturefd LLC grew its holdings in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 283 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, 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 transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company'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 $2,450,817.52. Following the sale, the chief executive officer now owns 776,369 shares of the company's stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 over the last quarter. 12.10% of the stock is owned by company insiders.

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CAVA Group Stock Performance

Shares of CAVA stock traded up $1.24 during trading on Friday, hitting $90.01. The company had a trading volume of 1,748,031 shares, compared to its average volume of 3,096,442. The firm has a market capitalization of $10.40 billion, a P/E ratio of 195.68 and a beta of 3.33. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The stock's 50-day moving average price is $97.49 and its 200 day moving average price is $118.64.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAVA shares. Loop Capital cut their price objective on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. UBS Group cut their price target on CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Bank of America began coverage on shares of CAVA Group in a research report on Monday, March 31st. They set a "buy" rating and a $112.00 price objective for the company. William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their target price 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.56.

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.