Mitchell Capital Management Co. Reduces Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Mitchell Capital Management Co. reduced its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 84.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,588 shares of the company's stock after selling 59,755 shares during the period. Mitchell Capital Management Co.'s holdings in CAVA Group were worth $1,194,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group in the 4th quarter valued at $25,000. Allworth Financial LP lifted its stake in CAVA Group by 369.2% in 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 last quarter. Golden State Wealth Management LLC purchased a new stake in CAVA Group during the fourth quarter valued at about $47,000. GAMMA Investing LLC grew its stake in shares of CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company's stock valued at $48,000 after buying an additional 114 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of CAVA Group in the fourth quarter worth about $49,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 directly owns 10,884 shares of the company's stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock worth $96,522,922 over the last three months. 12.10% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

Several equities analysts recently issued reports on CAVA shares. TD Securities reduced their price target on CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Citigroup decreased their target price on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Loop Capital lowered their price target on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Barclays cut their price target on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, TD Cowen upped their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and a consensus price target of $131.47.

CAVA Group Price Performance

NYSE:CAVA traded up $0.45 during mid-day trading on Wednesday, hitting $86.70. 3,683,416 shares of the company's stock were exchanged, compared to its average volume of 2,826,503. CAVA Group, Inc. has a one year low of $57.92 and a one year high of $172.43. The business has a fifty day moving average price of $119.47 and a 200 day moving average price of $125.83. The company has a market cap of $10.02 billion, a PE ratio of 188.47 and a beta of 3.25.

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 for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $227.40 million during the quarter, compared to analysts' expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.