Wealthstar Advisors LLC Makes New $1.16 Million Investment in CAVA Group, Inc. (NYSE:CAVA)

Wealthstar Advisors LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,322 shares of the company's stock, valued at approximately $1,164,000.

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

CAVA Group Stock Performance

CAVA traded up $0.20 during midday trading on Thursday, hitting $130.50. The stock had a trading volume of 1,924,789 shares, compared to its average volume of 1,997,940. CAVA Group, Inc. has a 1 year low of $48.10 and a 1 year high of $172.43. The business has a fifty day moving average of $124.37 and a 200 day moving average of $123.39. The company has a market cap of $14.95 billion, a P/E ratio of 283.68 and a beta of 3.25.

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 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 firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business'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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on CAVA Group in a research report on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price target on the stock. Loop Capital upped their price target on CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a research report on Thursday, November 14th. TD Cowen boosted their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Barclays cut their price objective 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. Finally, Morgan Stanley boosted their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $142.13.

Insider Buying and Selling at CAVA Group

In related news, CAO Adam David Phillips sold 615 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 $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 776,369 shares of the company's stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 681,784 shares of company stock worth $100,756,372. 12.10% of the stock is currently owned by 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.