Nordea Investment Management AB Buys New Shares in CAVA Group, Inc. (NYSE:CAVA)

Nordea Investment Management AB acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,369 shares of the company's stock, valued at approximately $2,197,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Everence Capital Management Inc. purchased a new stake in CAVA Group in the 4th quarter worth approximately $271,000. Modus Advisors LLC lifted its holdings in CAVA Group by 8.0% in the 4th quarter. Modus Advisors LLC now owns 4,791 shares of the company's stock worth $540,000 after buying an additional 353 shares during the period. GAMMA Investing LLC raised its position in shares of CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company's stock worth $48,000 after acquiring an additional 114 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of CAVA Group by 1.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock worth $168,219,000 after acquiring an additional 19,493 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of CAVA Group in the 3rd quarter worth approximately $286,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAVA. Barclays decreased their target price on CAVA Group from $142.00 to $127.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Wedbush increased their target price on CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Piper Sandler increased their target price on CAVA Group from $100.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Morgan Stanley increased their target price on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.13.

CAVA Group Trading Up 0.5 %

CAVA traded up $0.60 during trading on Friday, hitting $115.19. 1,405,748 shares of the company's stock traded hands, compared to its average volume of 2,288,492. The company's 50 day simple moving average is $130.59 and its two-hundred day simple moving average is $116.79. CAVA Group, Inc. has a 12-month low of $41.61 and a 12-month high of $172.43. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 250.41 and a beta of 3.21.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same period last year, the business posted $0.06 EPS. The company's revenue was up 38.9% compared to the same quarter last year. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at $182,980. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronald M. Shaich sold 622,549 shares of the firm's stock in a transaction on 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 owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 652,549 shares of company stock worth $97,242,271. Insiders own 12.10% of the company's stock.

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.