Magnetar Financial LLC Makes New $1.69 Million Investment in CAVA Group, Inc. (NYSE:CAVA)

Magnetar Financial LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,983 shares of the company's stock, valued at approximately $1,690,000.

A number of other large investors also recently modified their holdings of CAVA. FMR LLC raised its stake in shares of CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company's stock valued at $431,621,000 after acquiring an additional 29,668 shares during the period. Jennison Associates LLC raised its position in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP lifted its stake in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock worth $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC boosted 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 worth $168,219,000 after buying an additional 19,493 shares during the period. Finally, State Street Corp grew its stake in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company's stock valued at $156,959,000 after buying an additional 316,514 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the sale, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock valued at $3,514,101 over the last quarter. Insiders own 12.10% of the company's stock.

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Analyst Upgrades and Downgrades

CAVA has been the subject of a number of analyst reports. Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Barclays decreased their target price on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Citigroup decreased 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. Finally, Wedbush reaffirmed an "outperform" rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.47.

CAVA Group Price Performance

CAVA traded down $0.12 during trading hours on Tuesday, hitting $90.21. 2,920,323 shares of the stock were exchanged, compared to its average volume of 2,923,524. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 196.11 and a beta of 3.58. The stock has a 50-day simple moving average of $110.27 and a 200-day simple moving average of $122.83. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month 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 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $223.34 million. Sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.