Raymond James Financial Inc. Invests $59.52 Million in CAVA Group, Inc. (NYSE:CAVA)

Raymond James Financial Inc. purchased a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 527,623 shares of the company's stock, valued at approximately $59,516,000. Raymond James Financial Inc. owned about 0.46% of CAVA Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the 4th quarter worth approximately $25,000. Allworth Financial LP boosted its position in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after buying an additional 192 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in CAVA Group in the 4th quarter worth about $47,000. GAMMA Investing LLC raised its position in 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 buying an additional 114 shares during the last quarter. Finally, R Squared Ltd bought a new position in CAVA Group during the 4th quarter valued at about $49,000. Institutional investors own 73.15% of the company's stock.

CAVA Group Trading Up 4.6 %

CAVA traded up $3.38 on Friday, hitting $77.45. 3,263,731 shares of the company's stock traded hands, compared to its average volume of 2,986,191. The company's 50 day simple moving average is $114.84 and its 200-day simple moving average is $124.40. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 168.37 and a beta of 3.58.

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CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS 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%. As a group, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CAVA shares. Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Loop Capital cut their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Piper Sandler upgraded 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. Morgan Stanley raised 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, Sanford C. Bernstein began coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and a consensus price target of $131.47.

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 20,564 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the sale, the insider now directly owns 57,312 shares of the company's stock, valued at $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by corporate insiders.

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.