23,373 Shares in CAVA Group, Inc. (NYSE:CAVA) Purchased by Sovran Advisors LLC

Sovran Advisors LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,373 shares of the company's stock, valued at approximately $2,628,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CAVA. GAMMA Investing LLC increased its position in CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after buying an additional 125 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in CAVA Group in the 3rd quarter worth about $50,000. Golden State Wealth Management LLC bought a new stake in CAVA Group in the 4th quarter valued at about $47,000. R Squared Ltd purchased a new stake in CAVA Group during the fourth quarter valued at about $49,000. Finally, Burkett Financial Services LLC purchased a new position in shares of CAVA Group in the fourth quarter worth about $56,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares of the company's stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,784 shares of company stock valued at $98,656,372 in the last quarter. Company insiders own 12.10% of the company's stock.

CAVA Group Stock Up 0.6 %

Shares of CAVA Group stock traded up $0.78 during trading on Friday, reaching $131.28. The company's stock had a trading volume of 1,594,884 shares, compared to its average volume of 1,984,638. CAVA Group, Inc. has a 52-week low of $48.10 and a 52-week high of $172.43. The company has a market cap of $15.04 billion, a price-to-earnings ratio of 285.39 and a beta of 3.25. The firm's 50-day moving average is $123.58 and its two-hundred day moving average is $123.78.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million during the quarter, compared to analysts' expectations of $233.05 million. During the same quarter in the prior year, the company earned $0.06 EPS. The firm's revenue was up 38.9% on a year-over-year basis. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Citigroup boosted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Barclays reduced their target price on CAVA Group from $142.00 to $127.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Robert W. Baird raised their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Finally, Wedbush upped their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and a consensus price target of $142.13.

CAVA Group Company 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.