Polymer Capital Management US LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Polymer Capital Management US LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,677 shares of the company's stock, valued at approximately $415,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of CAVA Group by 5.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,162 shares of the company's stock worth $2,745,000 after purchasing an additional 1,155 shares in the last quarter. Captrust Financial Advisors grew its position in shares of CAVA Group by 17.6% in the 3rd quarter. Captrust Financial Advisors now owns 9,173 shares of the company's stock valued at $1,136,000 after acquiring an additional 1,372 shares during the period. Janus Henderson Group PLC increased its stake in shares of CAVA Group by 21.4% during the 3rd quarter. Janus Henderson Group PLC now owns 25,500 shares of the company's stock worth $3,157,000 after purchasing an additional 4,500 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of CAVA Group by 10.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,390 shares of the company's stock valued at $791,000 after purchasing an additional 585 shares during the period. Finally, Stifel Financial Corp lifted its stake in CAVA Group by 7.9% in the 3rd quarter. Stifel Financial Corp now owns 57,395 shares of the company's stock valued at $7,108,000 after purchasing an additional 4,214 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price for the company in a report on Thursday, March 20th. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Barclays decreased their price target on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Finally, Robert W. Baird set a $105.00 price objective on shares of CAVA Group and gave the stock an "outperform" rating in a research report on Monday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.56.

Insiders Place Their Bets

In other news, CFO Tricia K. Tolivar sold 1,505 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $187,206.95. Following the completion of the sale, the chief financial officer now owns 234,087 shares of the company's stock, valued at approximately $29,118,081.93. This represents a 0.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now owns 57,312 shares of the company's stock, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock valued at $3,514,101 in the last quarter. Corporate insiders own 12.10% of the company's stock.

CAVA Group Trading Down 3.1 %

Shares of CAVA stock traded down $2.87 during trading hours on Thursday, reaching $89.09. The stock had a trading volume of 1,984,897 shares, compared to its average volume of 3,095,926. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The firm has a market capitalization of $10.30 billion, a PE ratio of 191.55 and a beta of 3.33. The stock's fifty day simple moving average is $99.52 and its 200 day simple moving average is $119.16.

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 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. As a group, equities research analysts anticipate 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.