Quantessence Capital LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Quantessence Capital LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,979 shares of the company's stock, valued at approximately $1,126,000.

Several other large investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group during the 4th quarter worth about $25,000. Allworth Financial LP raised its position in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after purchasing an additional 192 shares during the last quarter. Larson Financial Group LLC boosted its stake in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. increased its stake in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after buying an additional 283 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded down $0.41 during midday trading on Friday, reaching $90.61. The company's stock had a trading volume of 99,520 shares, compared to its average volume of 3,118,019. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 197.18 and a beta of 3.33. The firm has a 50 day moving average price of $88.61 and a two-hundred day moving average price of $116.28. CAVA Group, Inc. has a fifty-two week low of $59.02 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Transactions at CAVA Group

In other news, CFO Tricia K. Tolivar sold 1,505 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 234,087 shares in the company, valued at approximately $29,118,081.93. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business's stock in a transaction dated 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 owns 10,884 shares of the company's stock, 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 sold 5,734 shares of company stock worth $713,252 over the last quarter. Corporate insiders own 12.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAVA. Sanford C. Bernstein raised shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a report on Wednesday. Bank of America started coverage on shares of CAVA Group in a research report on Monday, March 31st. They set a "buy" rating and a $112.00 target price on the stock. TD Securities reduced their price objective on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Monday. Robert W. Baird set a $105.00 target price on shares of CAVA Group and gave the company an "outperform" rating in a report on Monday, April 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.19.

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.