KLP Kapitalforvaltning AS Takes $1.85 Million Position in CAVA Group, Inc. (NYSE:CAVA)

KLP Kapitalforvaltning AS purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,400 shares of the company's stock, valued at approximately $1,850,000.

Several other institutional investors have also added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI bought a new position in CAVA Group during the fourth quarter worth about $25,000. Allworth Financial LP increased its holdings in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC boosted its stake in shares of 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 buying an additional 200 shares during the period. Whittier Trust Co. grew its position in 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 buying an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its position 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 buying an additional 283 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 851 shares of the company's 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 of the company's stock, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now 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. Over the last 90 days, insiders have sold 29,235 shares of company stock worth $3,514,101. Company insiders own 12.10% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Barclays reduced their price objective on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. TD Securities dropped their target price on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Finally, Citigroup lowered 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. Six research 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, CAVA Group currently has a consensus rating of "Moderate Buy" and an average target price of $130.25.

CAVA Group Stock Down 0.5 %

CAVA Group stock traded down $0.43 during trading hours on Tuesday, hitting $85.99. The stock had a trading volume of 458,307 shares, compared to its average volume of 3,025,261. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 187.11 and a beta of 3.58. The business's 50 day simple moving average is $107.40 and its 200-day simple moving average is $121.67. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) 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 business had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. Research analysts anticipate 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.