Nemes Rush Group LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Nemes Rush Group LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,454 shares of the company's stock, valued at approximately $5,353,000.

A number of other large investors have also recently made changes to their positions in CAVA. HighPoint Advisor Group LLC boosted its holdings in CAVA Group by 3.5% in the 4th quarter. HighPoint Advisor Group LLC now owns 6,747 shares of the company's stock worth $761,000 after buying an additional 228 shares during the period. California Public Employees Retirement System grew its position in shares of CAVA Group by 17.8% during the fourth quarter. California Public Employees Retirement System now owns 126,540 shares of the company's stock worth $14,274,000 after purchasing an additional 19,078 shares in the last quarter. Schroder Investment Management Group raised its stake in CAVA Group by 6.0% during the 4th quarter. Schroder Investment Management Group now owns 54,434 shares of the company's stock valued at $6,070,000 after purchasing an additional 3,075 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in CAVA Group by 62.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company's stock worth $140,572,000 after purchasing an additional 480,900 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in CAVA Group in the 4th quarter worth approximately $256,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In other news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred 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 transaction, the insider now owns 358,995 shares of the company's stock, valued at $42,785,024.10. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of the company's 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 directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,235 shares of company stock valued at $3,514,101 over the last ninety days. 12.10% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several research firms have recently issued reports on CAVA. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. UBS Group decreased their price target on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Citigroup cut their price objective on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Bank of America assumed coverage on CAVA Group in a report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price on the stock. Finally, JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target for the company in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and a consensus price target of $130.25.

CAVA Group Price Performance

Shares of CAVA stock traded down $8.88 during mid-day trading on Friday, hitting $75.30. The stock had a trading volume of 8,153,045 shares, compared to its average volume of 3,072,028. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43. The firm's 50-day moving average is $104.28 and its two-hundred day moving average is $120.60. The firm has a market capitalization of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $223.34 million. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.